{"id":103082,"date":"2025-11-13T04:49:00","date_gmt":"2025-11-13T04:49:00","guid":{"rendered":"https:\/\/sotnews.agency\/?p=103082"},"modified":"2025-11-13T04:49:00","modified_gmt":"2025-11-13T04:49:00","slug":"finance-minister-dr-ato-forson-set-to-review-vat-rate-roll-out-major-tax-reforms-in-2026-budget","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=103082","title":{"rendered":"Finance Minister Dr Ato Forson set to review VAT rate, roll out major tax reforms in 2026 Budget"},"content":{"rendered":"
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Finance Minister Dr Ato Forson is set to announce a reduction in the effective VAT rate to be paid by businesses from next year.<\/p>\n

This will be captured in the 2026 Budget, which will be presented to Parliament later today.<\/p>\n

The Finance Minister is also expected to announce a major review of the country\u2019s tax laws.<\/p>\n

There are strong indications that Dr Ato Forson will move to scrap the COVID-19 Levy.<\/p>\n

Some analysts are already describing this as a \u201ctotal revamp\u201d of Ghana\u2019s tax laws \u2014 similar to the sweeping changes introduced between 2013 and 2016.<\/p>\n

Sources say the move forms part of government\u2019s broader plan to simplify the tax regime for businesses and improve compliance.<\/p>\n

JoyBusiness understands that government believes this approach could help address persistent revenue mobilisation challenges.<\/p>\n

Expanding Ghana\u2019s Economy and Job Creation<\/strong><\/h3>\n

The Finance Minister is also expected to propose a review of the Public Financial Management Act \u2014 a move aimed at tightening expenditure controls going into next year. <\/p>\n

This will be accompanied by improvements to the Ghana Integrated Financial Management Information System (GIFMIS), which could help manage the country\u2019s debt levels.<\/p>\n

The 2026 Budget is expected to highlight ongoing government initiatives such as the \u201cBig Push\u201d and the \u201c24-Hour Economy\u201d programme, and how they are expected to expand the economy.<\/p>\n

Sources say the minister will also outline programmes targeted at reducing unemployment and creating more jobs.<\/p>\n

Dr Ato Forson is likely to emphasise how the current administration has prudently managed the economy and maintained fiscal discipline.<\/p>\n

He will also outline government\u2019s plans for managing the economy after the completion of Ghana\u2019s IMF-supported programme.<\/p>\n

There are strong indications that the Finance Minister may take a more moderate stance on Ghana\u2019s macroeconomic targets for 2026.<\/p>\n<\/div>\n

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