Audio By Carbonatix
The Ghana Revenue Authority (GRA) will from July 1, 2025 commence a 15% Value Added Tax (VAT) on non-life insurance premiums.
“Starting July 1, 2025, a 15% VAT will be applied to non-life insurance premiums in Ghana”, the authority said on its social media pages.
According to the GRA, the tax will affect property, health, and travel.
Motor insurance is however exempted.
The tax handle is expected to improve revenue collection for government to help meet government target set in the 2025 Budget.
What does it mean?
By this, individuals or businesses will pay 15 percent more insurance companies in exchange for an insurance policy, which provides financial protection against potential losses or damages.
This will bring additional cost to policy holders.
Latest Stories
-
Many NPP members share Frimpong-Boateng’s views; NPP should prepare to expel them too – Dr Nyaho-Tamekloe
1 minute -
I’m not leaving – Prof. Frimpong-Boateng defies NPP expulsion threats
8 minutes -
If you know you have misused public funds, be prepared to return it – Asiedu Nketia
8 minutes -
Police arrest three over taxi phone-snatching syndicate
14 minutes -
NPP’s move against Frimpong-Boateng raises fairness concerns – Asah-Asante
30 minutes -
I’m not leaving NPP; the fake people should rather go – Prof. Frimpong-Boateng
36 minutes -
‘We have met Pontius Pilate’ – Judge declines state’s bid to drop Abu Trica co-accused charges
1 hour -
Who said Ofori-Atta was picked up from an ICU bed? – Frank Davies questions ‘medically fit’ claim
1 hour -
We’ll win the Kpandai re-run—Tanko-Computer
1 hour -
Ghana facing acute teacher shortage as 30,000 classrooms left without teachers – Eduwatch
1 hour -
7 dead, 18 injured in horrific Cape Coast–Takoradi highway collision
1 hour -
Northern Region fire service warns against prank calls after 67,200 fake emergencies in 2025
2 hours -
GACL to engage domestic airlines to reduce flight prices – CEO
2 hours -
How the Mahama Government vindicated Bawumia on the Ghana Card 6 times in a year
2 hours -
6 Simple ways to protect your heart better in 2026
2 hours