Finance Minister Dr Ato Forson is set to announce a reduction in the effective VAT rate to be paid by businesses from next year.
This will be captured in the 2026 Budget, which will be presented to Parliament later today.
The Finance Minister is also expected to announce a major review of the country’s tax laws.
There are strong indications that Dr Ato Forson will move to scrap the COVID-19 Levy.
Some analysts are already describing this as a “total revamp” of Ghana’s tax laws — similar to the sweeping changes introduced between 2013 and 2016.
Sources say the move forms part of government’s broader plan to simplify the tax regime for businesses and improve compliance.
JoyBusiness understands that government believes this approach could help address persistent revenue mobilisation challenges.
Expanding Ghana’s Economy and Job Creation
The Finance Minister is also expected to propose a review of the Public Financial Management Act — a move aimed at tightening expenditure controls going into next year.
This will be accompanied by improvements to the Ghana Integrated Financial Management Information System (GIFMIS), which could help manage the country’s debt levels.
The 2026 Budget is expected to highlight ongoing government initiatives such as the “Big Push” and the “24-Hour Economy” programme, and how they are expected to expand the economy.
Sources say the minister will also outline programmes targeted at reducing unemployment and creating more jobs.
Dr Ato Forson is likely to emphasise how the current administration has prudently managed the economy and maintained fiscal discipline.
He will also outline government’s plans for managing the economy after the completion of Ghana’s IMF-supported programme.
There are strong indications that the Finance Minister may take a more moderate stance on Ghana’s macroeconomic targets for 2026.
Source: Myjoyonline.com
