Ghana: 2023 budget passed by Parliament includes VAT and e-levy amendments

Legislation includes tax amendments with respect to value added tax (VAT) and the electronic transfer levy.

VAT and e-levy amendments

The 2023 budget statement, which was presented to the Parliament by the Minister of Finance on 24 November 2022 (read TaxNewsFlash), has been passed by the Parliament and published in the gazette on 29 December 2022.

The legislation includes tax amendments with respect to value added tax (VAT) and the electronic transfer levy (“e-levy”), including:

  • Increase in the standard VAT rate to 15% (from 12.5%)—effective 1 January 2023
  • Removal of VAT exemption for imported textbooks, imported newspapers other printed materials—effective 1 January 2023
  • Introduction of VAT exemption for betting and other games of chance—effective 1 January 2023
  • Changes to compliance timelines and penalties for non-implementation of electronic VAT invoicing system
  • Reduction of the “e-levy” rate to 1% (from 1.5%)

Read a January 2023 report [PDF 1.6 MB] prepared by the KPMG member firm in Ghana


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