Ghana MOF Posts 2025 Mid-Year Budget Review Statement

The Ghanaian Ministry of Finance July 24 posted online a mid-year budget review statement for financial year 2025, presented to Parliament the same date. The statement describes measures to: 1) strengthen tax collection systems and broaden the tax base; 2) abolish the COVID-19 levy; 3) reduce the effective VAT rate; 4) remove the cascading effect of the Ghana Education Trust Fund (GETFund) and National Health Insurance regime (NHIS) levies; 5) remove flat VAT rates and implement a unified VAT rate; 6) increase the VAT registration threshold, to exempt small and micro businesses; 7) improve compliance through public education and new ...