Audio By Carbonatix
The Finance Minister, Dr. Cassiel Ato Forson, has justified the decision to delay the removal of the COVID-19 levy, insisting it has to complete ongoing Value Added Tax (VAT) reforms before doing so.
According to him, there is also a need to undertake the necessary business engagement.
The government earlier this year announced that it is hoping to complete work on VAT reforms by September 2025 to facilitate the removal of the Covid-19 levy.
However, addressing Parliament during the Mid-Year Review of the 2025 Budget, the finance minister said the full removal will be captured in the 2026 Budget.
The government has also announced plans to reform the whole VAT structure. This will also see the effective VAT rate reduced.
The cascading effect of the GETFUND and NHIS levies will also be removed.
Meanwhile, the unified VAT will be implemented, while the VAT threshold will be increased to exempt small and micro businesses
Latest Stories
-
Wa West Agric Director calls for stronger gov’t support after difficult farming year
16 minutes -
‘Agriculture isn’t only for village folks’ — President Mahama pushes professionals to take up farming
18 minutes -
82-year-old man emerges overall National Best farmer for 2025
34 minutes -
Calls grow for stronger oversight as free trade and lax regulation fuel fake medicines
54 minutes -
World Cup 2026: Tuchel keeps group stage opponents under wraps, shuns Ghana
1 hour -
Volta Region received a significant share of Big Push road projects – Mahama
1 hour -
Togbe Afede XIV lauds government’s $10bn ‘big push’ programme for boosting farm produce transport
2 hours -
FDA urges consumers to prioritise safety when purchasing products during festive season
2 hours -
President Mahama calls for single-digit interest rates on agricultural loans
3 hours -
President Mahama urges Ghanaians in formal jobs to take up farming
3 hours -
Farming interventions paying off, lifting incomes and food security, says Agric minister
3 hours -
Gov’t pledges science-backed interventions in agriculture, says Agric minister
3 hours -
Ghana unveils $3.4bn plan to accelerate national clean energy transition
3 hours -
Interior minister urges security agencies to maximise use of new NSB regional command in Ho
3 hours -
Photos: Ghana celebrates 41st National Farmers’ Day
3 hours