Parliament has approved the Value Added Tax (VAT) Bill 2025, which seeks to introduce comprehensive tax reforms to enhance clarity, consistency, and legal certainty in the country’s VAT regime.
It will replace the current flat-rate system with a single, coherent structure.
The bill introduces a provision to increase the registration threshold for VAT-eligible businesses, a move expected to exempt many micro and small enterprises from VAT obligations.
The Minority Caucus, led by Alexander Afenyo-Markin, raised concerns over the new bill, stating that the revised VAT framework could impose additional taxes on businesses and place an additional burden on the general public.
However, Deputy Finance Minister Thomas Nyarko Ampem disagreed, noting that the new VAT framework will simplify compliance rather than impose additional tax burdens on businesses or the public.
By: Rainbowradioonline.com/Ghana
