News Ghana· 15h ago· 1 min read
NewsGhana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://www.newsghana.com.gh/vat-overhaul-cuts-rate-raises-registration-threshold/ Parliament passed a Value Added Tax (VAT) reform this year that lowers the effective VAT rate from 21.9 percent to 20 percent and raises the registration threshold from GH¢200,000 to GH¢750,000, exempting a large band of small traders from having to charge the tax at all, Finance Minister Dr. Cassiel Ato Forson told Parliament on Thursday.
For small business owners, the threshold change is the more immediate relief. A shop or service business earning below GH¢750,000 a year no longer needs to register for VAT or file the paperwork that comes with it, a change government frames as cutting compliance costs for the smallest operators.
The Value Added Tax (Amendment) Act, 2025 (Act 1151), also folded some previously exempt goods and…
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