Finance Minister Dr Cassiel Ato Forson has commended the previous New Patriotic Party (NPP) administration for enacting the legislation that paved the way for the implementation of fiscal electronic devices, describing it as an important legal foundation for ongoing tax reforms.

Speaking during the presentation of the 2026 Mid-Year Fiscal Policy Review in Parliament, Dr Forson said while the idea of introducing fiscal electronic devices originated under a previous National Democratic Congress (NDC) administration, the NPP government deserves recognition for passing the enabling law.

"The concept of fiscal electronic device was first proposed by the previous NDC administration in 2016. But, Mr Speaker, the previous NPP administration deserves commendation for enacting the necessary enabling legislation," he told Parliament.

According to the Finance Minister, the Taxation (Use of Fiscal Electronic Device) Act, 2018 (Act 966) established the legal framework required to implement the reform.

"The Taxation (Use of Fiscal Electronic Device) Act, 2018 (Act 966), laid an important legal foundation for this reform," he said.

Dr Forson noted, however, that although the legislation was enacted eight years ago, implementation had not begun until now.

"Eight years on, this government is taking the decisive step of implementing the reform," he stated.

Emphasising his point, the Finance Minister repeated his acknowledgement of the previous administration's contribution.

"For emphasis, the enabling legislation, the Taxation (Use of Fiscal Electronic Device) Act, 2018 (Act 966), was introduced in 2018 by the previous NPP administration. I just want to use this opportunity to commend them. Eight years on, this government is taking the decisive step of implementing the reform," he said.

Dr Forson also disclosed that the Chairperson and Ranking Members of Parliament's Finance and Budget Committees have been invited to provide strategic oversight for the implementation of the initiative.

He expressed concern over the country's low Value Added Tax (VAT) collection, revealing that Ghana currently loses an estimated 60 per cent of its potential VAT revenue due to non-compliance and systemic inefficiencies.

"Ghana currently loses an estimated 60% of its potential VAT revenue through non-compliance and systemic inefficiencies. This is unacceptable. Losing 60% of the VAT that you are supposed to collect to develop your country is unacceptable," he said.

The Finance Minister stressed that the government was determined to reverse the trend and called on Parliament to support efforts to improve VAT compliance.

"It cannot continue and under this government, this will not continue. I call on Parliament to support government to crack down on businesses and individuals who collect VAT from taxpayers and keep it instead of remitting it to the State," he said.

According to Dr Forson, the introduction of fiscal electronic devices will play a critical role in strengthening tax administration by improving VAT collection, reducing revenue leakages and ensuring businesses properly account for the taxes they collect.

"Fiscal electronic devices will help improve VAT collection, reduce revenue leakages and ensure that businesses account properly for VAT they collect," he stated.