Finance Minister Dr. Cassiel Ato Forson has introduced a chain of tax reforms beneath the 2026 Budget geared toward making a fairer, more practical, and extra business-friendly fiscal gadget.

Presenting the funds to Parliament, Dr Forson mentioned the reforms mark a turning level in Ghana’s tax management and are designed to make compliance more uncomplicated for companies whilst strengthening home plan mobilisation.

“This is not just a tax reform. It is a step toward a more just, predictable, and business-friendly economy,” Dr. Forson mentioned. “It honours our pledge to lighten the load on honest taxpayers while building a stronger foundation for national development.”

Among the measures, executive has abolished the COVID-19 Health Recovery Levy, diminished the efficient VAT charge from 21.9 p.c to twenty p.c, and raised the VAT registration threshold from GH¢200,000 to GH¢750,000 to ease the load on small and medium enterprises.

These steps, Dr Forson defined, will go back about GH¢5.7 billion to companies and families and make stronger Ghana’s competitiveness.

In addition, VAT on mineral exploration and reconnaissance has been scrapped to inspire new investments, whilst the zero-rating for in the neighborhood manufactured textiles has been prolonged to 2028 to give protection to native jobs.

The executive will even introduce virtual VAT tracking programs, fiscal digital gadgets, and a VAT praise scheme to toughen compliance and transparency.

Beyond VAT, the Ministry of Finance will adopt a complete evaluate of key tax regulations, together with the Income Tax Act, the Customs Act, and the Excise Duty Act, to align them with multinational requirements.

Dr Forson mentioned those opinions will simplify compliance, advertise fairness, and toughen investor self belief.

“We must move from patchwork reforms to a coherent, modern framework,” he famous. “Our goal is to ensure Ghana’s tax system keeps pace with changing business realities, protects our tax base, and rewards compliance.”

The Finance Minister additionally indicated that new programs will probably be deployed on the ports to curb smuggling, under-invoicing, and misclassification.

These measures are anticipated to near long-standing plan leakages and toughen customs potency.

“Through these reforms, we are not merely raising revenue,” Dr Forson emphasized. “We are rebuilding trust between citizens and the state, ensuring that every cedi collected is used to build the Ghana we want.”

The 2026 tax reform package deal bureaucracy a key a part of the federal government’s fiscal consolidation schedule, designed to maintain macroeconomic balance whilst encouraging personal gain success and activity introduction.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made through Readers and Contributors in this platform don’t essentially constitute the perspectives or coverage of Multimedia Group Limited.