Following the Government of Ghana’s announcement of various tax policy changes in the 2023 Budget Statement, the standard VAT rate has been revised from 12.5% to 15%.
Taxable suppliers registered under the standard VAT rate regime will be required to charge VAT at a rate of 15% on the value of supplies.
VAT is charged together with National Health Insurance Levy (@ 2.5%), Ghana Education Trust Fund Levy (@ 2.5%), and COVID-19 Health Recovery Levy (@ 1%). The effective VAT (and related levies) rate will therefore increase from 19.25% to 21.9%.
