The Ghana Revenue Authority (GRA) says the new VAT regime is easing cost pressures on consumers, with about GH¢6.5 billion returned to households as prices fall by 1.9 percent.
According to the Authority, prices of goods and services have fallen by about 1.9 percent since the reforms took effect, following a reduction in the effective VAT rate to 20 percent.
Speaking during a VAT compliance monitoring exercise at shopping malls in the Spintex enclave, Commissioner-General of the GRA, Anthony Sarpong, called on businesses to voluntarily comply with the revised VAT framework and urged consumers to demand VAT invoices to support enforcement.
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“We came to visit some of the shops to witness firsthand for ourselves how the implementations of the VAT reforms are going. As you are all aware, this is a comprehensive reform that is reducing the rate, abolishing the COVID levy, removing the coupling, and also ensuring that the thresholds for smaller businesses are also raised.
“This morning we visited a number of the shops, and we are satisfied that all the shops that we have visited have actually configured their systems and they are applying the new VAT rates for that matter.
“We have also had engagement with consumers and we note that their satisfaction with the reduction in the rate of the VAT, which in essence affirms what the Minister of Finance announced that the reforms is giving back over 6.5 billion into the pockets of Ghanaians. This morning those who have been with us have witnessed how the consumers are enjoying that.
“For us at GRA, we continue to appeal to businesses and individuals who are business owners that we would like you to go on voluntary compliance, comply with VAT, charge VAT, implement VAT on your systems or issue VAT invoice as the case may be. For all consumers, as you are enjoying the new reforms, also demand your VAT invoice anytime you purchase,” he said.
Anthony Sarpong added that sustained compliance is critical to mobilizing revenue for national development, in line with the economic vision of President John Dramani Mahama.
“When we work responsibly as businesses and also act responsibly as consumers, together we will raise the needed revenue that is needed to develop the nation. The President has affirmed his vision in 2026 that it’s a year of growth, it’s a year of job creation, it’s a year of transformation.
“All of these things will come about when we generate the revenue for national development and therefore we call on all Ghanaians, know that you are supposed to pay your VAT, collect your VAT invoices and ensure that together with GRA, together with businesses, we are raising the needed revenue in support of the President’s vision of resetting Ghana, growing the economy, creating jobs and overall transforming the nation for the benefit of all of us,” he stressed.
Meanwhile, shopping malls visited in the Spintex enclave, including Palace Mall, Melcom, Orca Décor, United Commercial Trading, and Palace Home Décor confirmed that their systems have been recalibrated to reflect the new VAT regime, with customers also expressing satisfaction with the resulting price reductions.
CNR