Ghana Budget Review: COVID Levy Gone, VAT Changes Coming!

Eiii Ghana! Get ready for some changes for your pocket! Finance Minister Dr. Cassiel Ato Forson just drop the Mid-Year Budget Review for 2025, and e dey bring some good news and some changes for how we dey pay tax.

COVID Levy to Chop Chop!

The COVID-19 Health Recovery Levy, the one wey dey pain us small, dey go! Government say dem go scrap am completely. This one be big relief for many Ghanaians.

VAT Dey Go Get Makeover

The government dey plan to change the Value Added Tax (VAT) system. Dem wan make am simple and easy for everybody, especially small businesses. Dem go remove some charges wey dey make the VAT expensive, like the GETFund and NHIS levies.

The VAT Flat Rate Scheme, wey dey give people wahala, sef go chop chop! Dr. Forson say dem dey committed to make life easier for businesses and consumers.

Small Business Owners Go Smile

If you dey run small business, listen up! The government go raise the VAT registration threshold. This mean say plenty small traders no go need to pay VAT again. E go help dem grow their businesses without too much pressure.

What Next?

Dem already dey talk to people about these changes. The Ghana Revenue Authority and Ministry of Finance dey meet with stakeholders all over the country. The government go bring the final bill to Parliament for October as part of the 2026 Budget Statement.

More Tax Changes Coming

Dr. Forson say dem wan make the tax system fair and transparent. Dem go roll out fiscal electronic devices and teach people about tax so everybody go comply. This go help government get more money without putting extra pressure on we Ghanaians.

So, keep your ears to the ground! Plenty changes dey come wey go affect how we dey spend our money. We go keep you updated!