Value-added tax in Ghana (www.makemoney.ng)

The Ghanaian economy is fueled by taxes with the country having an over 13 taxtoGDP ratio in 2018 and 2020.

Valueadded tax (VAT) collection is one significant tax that drives the Ghanaian government revenue, in November 2022, the Ghanaian government increased VAT collections from 12.5 to 15.

This article outlines how VAT in Ghana has metamorphosed over the years and expounds on the situation the current VAT regime finds itself in and all there is to know now.

The country is one of the top 20 largest economies on the African continent and the second largest economy in West Africa.

Keypoints

• What is Valueadded tax
• A brief history of valueadded tax in Ghana
• Position of retailers
• The new era of VAT Collection in Ghana
• Valueadded tax rate in Ghana
• How to register for VAT in Ghana
• Conclusion
• Frequently Asked Questions