The Country Senior Partner at PWC Ghana has stressed the importance of proper implementation in the government's VAT reform plans, stating that while the proposed changes look promising on paper, execution will be the true test.

Vish Ashiagbor speaking on Joy News’ PM Express Business Edition on Thursday, March 13, he acknowledged that the tax measures had been carefully considered but stressed that their success hinges on how well they are implemented.

“So I think the tax measures have been carefully thought through and are being carefully assessed. That is why you see, for example, the changes to the VAT regime have not been made immediately,” Vish Ashiagbor noted.

He acknowledged the widespread agreement that Ghana’s VAT system needs a complete overhaul but cautioned that such a process must be carefully managed due to the delicate economic balance.

Addressing concerns raised by business leaders, including the CEO of the Chamber of Commerce, about the delay in VAT reforms, Mr Ashiagbor explained that a phased approach is necessary.

“I take the point that the CEO of the Chamber of Commerce made that they had hoped there would have been some immediate relief from that front. I don’t think it’s a trial-and-error thing. I think it’s been carefully thought through.”

While expressing optimism about the projected increases in revenue from the VAT adjustments, he admitted that achieving these targets will require significant effort.

“The increases that have been projected will take some doing, but if I read the narrative and the initiatives that they’ve put forward, I think it’s possible,” he said.

However, he quickly added a word of caution: “On paper, it looks good, but implementation is always the key.”

Vish Ashiagbor’s remarks highlight the ongoing challenge of tax reform in Ghana—balancing fiscal responsibility with economic growth while ensuring that policies are not only well-designed but also effectively put into action.