VAT amendment

06 Jan 2023 / Ghana

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%.

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