The Ghana Revenue Authority says, yep, they’re actually on schedule with these big VAT changes expect them to wrap up by September next year. So, if you’re the type who plans life around tax reforms (no judgment), mark your 2025 calendars. The new rules are supposed to kick in with the 2026 budget, so you’ve got time to brace yourself.
Edward Apenteng Gyamera, who’s basically the tax boss at GRA, spilled all this after sitting down with a bunch of traders and business folks in Accra. They’re not just winging it these meetings are part of a whole national tour, trying to get real feedback from people who actually have to deal with this stuff. Imagine that, a government agency asking for opinions.
Apparently, the Finance Ministry started this whole VAT revamp because, let’s be honest, the current system is kind of a mess. It’s been running on fumes for over ten years, so yeah, time for a facelift.
Gyamera says they’re bouncing around the country Accra’s just stop number one. Kumasi, Takoradi, Tamale, everyone gets their shot. Four meetups in Accra alone, which, I mean, is a lot of talking about taxes, but hey, democracy.
And here’s the thing: these are just ideas right now. Nothing’s set in stone. So if you’re worried about your favorite loophole disappearing, don’t freak out just yet. They’re taking notes, and while not every suggestion will make the cut, at least you’ll get an explanation if yours gets axed.
Bottom line? They want to widen the tax net and bump up VAT revenue by over 20%. Not exactly pocket change. Even the IMF came by earlier this year to throw their two cents in, so you know it’s serious.
Long story short, more consultations, more drafts, and probably more headaches welcome to tax reform.