The Ghana Revenue Authority (GRA) says recent VAT reforms are helping ease the burden on consumers, with around GH¢6.5 billion flowing back to households thanks to lower prices.
The Authority reports that prices of goods and services have dropped by around 1.9 percent since the reforms began, thanks to the effective VAT rate being reduced to 20 percent.
During a VAT compliance check at shopping malls in the Spintex area, GRA Commissioner-General Anthony Sarpong mentioned that early indications suggest the reforms are working as planned.
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He explained that the changes include a reduction in the VAT rate, the removal of the COVID-19 levy, the decoupling of VAT, and higher thresholds for smaller businesses.
Mr Sarpong said checks conducted at several shops showed that businesses had updated their systems and were applying the new VAT rates.
He noted that interactions with shoppers also confirmed growing satisfaction with the lower prices, reinforcing the government’s claim that the reforms are effectively putting money back into the pockets of Ghanaians.
The GRA boss used the visit to urge businesses to comply with the revised VAT framework voluntarily and to call on consumers to demand VAT invoices whenever they make purchases to strengthen enforcement.
He stressed that sustained compliance by both businesses and consumers is key to mobilising revenue for national development.
According to him, responsible tax compliance will support the government’s broader economic agenda of growth, job creation, and national transformation.
He added that the vision outlined by President John Dramani Mahama for 2026 depends mainly on the country’s ability to generate sufficient domestic revenue.
During the exercise, visits to malls such as Palace Mall, Melcom, Orca Décor, United Trading, and Palace Home Décor revealed that their systems had been updated to align with the new VAT regime. Shoppers were pleased with the changes, noting that the price cuts were already noticeable at the checkout.
Source: Accra Business News
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Samuel Kwame Boadu is a Ghanaian entrepreneur, writer, and digital consultant passionate about creating impactful stories and business solutions. He is the Founder & CEO of SamBoad Business Group Ltd, a dynamic company with subsidiaries in digital marketing, logistics, publishing, and risk management.
