The Ghana Revenue Authority (GRA) is targeting January 1, 2026, for the launch of the new Value Added Tax (VAT) reforms, contingent on Parliament’s timely approval of the VAT Amendment Bill before Christmas.
At the PwC Post-Budget Forum in Accra, Commissioner-General Anthony Sarpong emphasized that the GRA is “fully prepared” to implement the changes starting from the new year. He confirmed that parliamentary discussions on the bill are underway, and the Authority is optimistic about receiving the green light in time.
Sarpong highlighted the importance of early approval to ensure a smooth switch to the revamped VAT system, designed to simplify administration, boost compliance, and lower the tax burden on businesses. “We are expecting Parliamentary approval before Christmas, and once that is secured, we are ready for January 1 ,” he said.
The Commissioner-General also mentioned ongoing collaboration with the Ministry of Finance and other stakeholders to ensure all elements of the reform—ranging from VAT structure adjustments to upgraded digital invoicing—are ready for deployment without delay.
He revealed that the GRA has put in place the necessary technical and operational infrastructure, including enhanced digital platforms and improved taxpayer services. The Authority is also coordinating with affected businesses to prepare them for the new VAT rules.
Public education will be intensified immediately following parliamentary approval, Sarpong added, to ensure taxpayers fully grasp changes related to invoicing, compliance deadlines, and obligations of VAT-registered entities. He assured that the GRA would maintain open communication with industry players during the rollout to address any challenges swiftly.
“Our goal is to make the transition as seamless as possible for both businesses and consumers,” he concluded.
These VAT reforms are part of the government’s larger effort to modernize the tax system, increase revenue mobilization, and support economic recovery efforts going into 2025 and beyond.
Story by: Mercy Addai Turkson #ahotoronline.com