The Commissioner-General of the Ghana Revenue Authority (GRA), Anthony Sarpong, has revealed that Ghana’s revised Value Added Tax (VAT) regime is already lowering prices for consumers, with some goods and services seeing reductions.
Speaking to journalists during a VAT compliance monitoring exercise at shopping malls in Accra’s Spintex area, Mr. Sarpong highlighted the positive early impacts. The visit assessed how businesses are adapting to the government’s new VAT framework.
He described the changes as a comprehensive overhaul to reduce costs for both consumers and businesses. “We came to visit some of the shops to witness firsthand how the implementation of the VAT reforms is going. This is a comprehensive reform aimed at easing the burden on consumers and businesses alike,” Mr. Sarpong said.
Key reforms include slashing the VAT rate, scrapping the COVID-19 levy, eliminating the VAT coupling mechanism, and raising the registration threshold for small businesses.
Monitors found strong compliance, with retailers updating their systems to apply the new rates. “This morning, we visited a number of shops, and we are satisfied that those we inspected have adjusted their systems accordingly and are applying the new VAT rates,” he noted.
Shoppers expressed satisfaction over price drops, aligning with the Finance Minister’s projection that the changes could save Ghanaians over GH¢6.5 billion. “We have engaged with consumers, and we can see their appreciation of the reduction in VAT. Those who joined us today witnessed firsthand how consumers are benefiting from the reforms,” Mr. Sarpong added.
He urged businesses to keep charging VAT correctly and issuing invoices while calling on consumers to demand them. Tax compliance, he emphasized, fuels national development and supports the President’s 2026 vision of growth, jobs, and transformation.
“When businesses and consumers act responsibly, together we can generate the needed revenue to support national development, reset the economy, create jobs, and transform the country for the benefit of all,” he stated.
Mall operators confirmed their systems are now aligned with the new regime and committed to ongoing compliance.
Story by: Mercy Addai Turkson #ahotoronline.com