Ghana: Tax measures in 2022 budget

The budget statement and economic policy for 2022

The budget statement and economic policy for 2022

The Minister for Finance on 17 November 2021 presented the budget statement and economic policy for 2022.

The budget includes certain tax-related measures such as proposals for:

  • An electronic transaction levy, to be imposed at a rate of 1.75% on the value of digital transactions (to apply to mobile money payments, bank transfers, merchant payments, and inward remittances and proposed to be effective 1 January 2022)
  • A two-year extension of value added tax (VAT) relief for the domestic manufacture of textiles, through 31 December 2023
  • Revision of the VAT flat-rate scheme, so that the standard VAT rate applies for all firms except for certain retailers
  • A simplified tax compliance system for self-employed individuals
  • Reduction of the rate of withholding tax on sales of unprocessed gold (reduced to 1.5% from 3%)
  • A uniform property tax rate

Read a November 2021 report [PDF 24 MB] prepared by the KPMG member firm in Ghana

 

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