Parliament has approved the Value Added Tax(VAT) Bill 2025, aimed at undertaking comprehensive tax reforms to enhance clarity, consistency, and legal certainty in the country’s VAT regime.
The new bill seeks to replace the current flat-rate system with a single, coherent structure.
It also introduces a provision to increase the registration threshold for VAT-eligible businesses, a move expected to exempt many micro and small enterprises from VAT obligations.
However, debating the motion, the Minority Leader, Alexander Afenyo-Markin, cautioned that the revised VAT framework could impose additional taxes on businesses and place a additional burden on the general public.
The Deputy Finance Minister, Thomas Nyarko Ampem, however, rejected the claim, insisting that the new VAT framework will simplify compliance rather than impose additional tax burdens on businesses or the public.
Member of Parliament for Bimbilla, Dominic Nitiwul, has dismissed a circulating video in which he… Read More
The government has unveiled a major overhaul of the National Health Insurance Scheme (NHIS), announcing… Read More
The Asantehene, Otumfuo Osei Tutu II, is expected to present a comprehensive report to President… Read More
The High Court in Accra has discharged Gregory Afoko and his co-accused, Asabke Alangdi, who… Read More
The Member of Parliament for the Kpandai Constituency, Mathew Nyindam, has filed an application at… Read More
The Parliamentary Committee on Sanitation and Water Resources of Ghana, led by the Member of… Read More