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
-
High Court quashes GTEC directive derecognising UNEM degrees
1 hour -
Family demands independent probe into disappearance of newborn baby at Salaga Hospital
1 hour -
Al Qaeda-linked militants curb their brutality in seized Malian territory
1 hour -
Photos: How Accra West uses ‘aboboyaa’ to transport waste on muddy roads to McCarthy Hills dumpsite
2 hours -
Yaya Touré seals surprise new job with Champions League club
2 hours -
Anthropic suspends new AI tools over US government security concerns
2 hours -
New Somanya Methodist JHS to get major facelift
2 hours -
KNUST, NADMO begin dredging works after assessment reveals blocked stream and wetland encroachment
2 hours -
Ghanaian Mecca pilgrims back home after 2026 Hajj
3 hours -
Stakeholders unite in Ahafo Region to flash red card against child labour
3 hours -
Royal Family watch Red Arrows flypast on palace balcony
3 hours -
NAB Consulting announces completion of €250m structured finance facility for Niger
3 hours -
UG Vice Chancellor leads global push for better representation of African languages in AI revolution
3 hours -
World Vision partners Wa East Assembly to launch Children’s Parliament against child labour
4 hours -
Israel carries out air strikes on Lebanon, state media says, as Iran claims deal with US near
4 hours