The Commissioner-General of the Ghana Revenue Authority (GRA), Anthony Sarpong, has stated that the execution of the updated Value Added Tax (VAT) framework has already resulted in reduced prices for consumers.
During a VAT compliance monitoring exercise at shopping malls located in the Spintex area of the capital, he remarked, “We came to visit several shops to observe firsthand how the implementation of the VAT reforms is progressing. As you are all aware, this is a comprehensive reform that is lowering the rate, eliminating the COVID levy, removing the coupling, and also ensuring that the thresholds for smaller businesses are raised.”
He pointed out that retailers have responded positively to the policy changes. “This morning, we visited a number of shops, and we are pleased to report that all the shops we visited have successfully adjusted their systems to apply the new VAT rates accordingly.”
He indicated that the revised VAT regime has already led to price reductions. “We have also engaged with consumers and noted their satisfaction with the decrease in the VAT rate, which essentially confirms what the Minister of Finance announced: that the reforms are returning over 6.5 billion into the pockets of Ghanaians. This morning, those who accompanied us witnessed how consumers are benefiting from this.”
Mr. Sarpong urged businesses to adhere to the new framework and encouraged the public to request VAT invoices. “At GRA, we continue to appeal to businesses and individuals who own businesses to voluntarily comply with VAT, charge VAT, implement VAT in your systems, or issue VAT invoices as necessary. For all consumers, as you enjoy the new reforms, please also request your VAT invoice whenever you make a purchase,” he stated.
He further emphasized the significance of tax compliance for national development. “When we operate responsibly as businesses and also behave responsibly as consumers, we will collectively generate the necessary revenue required for the nation’s development. The President has reiterated his vision for 2026, declaring it a year of growth, a year of job creation, and a year of transformation.”
He also mentioned that effective revenue mobilization is crucial for Ghana’s economic goals. “All of these outcomes will materialize when we produce the revenue needed for national development. Therefore, we urge all Ghanaians to understand their obligation to pay VAT, collect VAT invoices, and ensure that, in collaboration with the GRA and businesses, we are generating the essential revenue to support the President’s vision of revitalizing Ghana, fostering economic growth, creating jobs, and ultimately transforming the nation for the benefit of everyone.”
Shopping malls that were visited during the initiative confirmed that their systems have been adjusted to align with the new VAT regulations.
