The Minister of Finance, Dr. Casiel Ato Forson has announced that abolishing the COVID-19 levy will be considered in October this year.
According to him, the abolition of the COVID-19 is part of the government’s VAT reforms.
He listed the reforms as follows:
1. COVID-19 Levy will be abolished;
2. The effective VAT rate will be reduced;
3. The cascading effect of the GETFund and NHIS levies will be removed;
4. VAT flat rates will be removed
5. Unified VAT rate will be implemented;
6. The VAT registration threshold will be increased to exempt small and micro businesses; and
7. Compliance will be improved through public education and the introduction of fiscal electronic devices.
The Minister assured that the levy will be part of the 2026 Budget Statement.
Source : Peacefmonline.com/Ghana
