Parliament has passed the Value Added Tax (VAT) Bill 2025, designed to deliver sweeping reforms that bring greater clarity, uniformity, and legal certainty to the nation’s VAT framework.
The legislation replaces the existing flat-rate arrangement with a unified structure intended to streamline administration.
A key feature of the bill is the upward revision of the registration threshold for VAT-qualifying businesses. This adjustment is expected to relieve many micro and small enterprises from VAT obligations altogether.
During deliberations, Minority Leader Alexander Afenyo-Markin voiced concern that the revamped VAT system could translate into higher levies for businesses and ultimately weigh more heavily on ordinary citizens.
Deputy Finance Minister Thomas Nyarko Ampem dismissed those fears, maintaining that the new framework is aimed at easing compliance procedures rather than increasing tax burdens for companies or the wider public.
Leave a Reply