PricewaterhouseCoopers (PwC) is calling on Finance Minister Dr. Cassiel Ato Forson to provide clearer updates on the government’s proposed Value Added Tax (VAT) reforms during the upcoming mid-year budget review slated for July 24.
The government had outlined intentions to reform the VAT regime in its maiden 2025 budget, raising expectations across the business community. However, details on implementation timelines remain scant.
Speaking in an interview, PwC’s Senior Partner, Vish Ashiagbor, emphasised that businesses require certainty to plan effectively.
“We expect the Minister to confirm that the budget presented in March is largely on track. That stability has been reassuring for the business community,” Ashiagbor stated.
He further highlighted the need for specific updates on tax policy proposals announced earlier this year, including the potential removal of the COVID-19 levy.
“You’ll recall that the March budget also raised expectations around VAT system reforms and the potential removal of levies such as the COVID-19 tax. At the time, we were told more assessment was needed before implementation.”
According to Ashiagbor, the mid-year review presents an opportunity for the government to communicate “clearer timelines and direction” on these tax measures to sustain investor confidence and support economic planning.
Businesses will be watching Thursday’s presentation closely for firm policy announcements that align with ongoing reforms under Ghana’s IMF-backed Post-COVID Programme for Economic Growth (PC-PEG).
