Services As VAT Goes Up 2.5% In 2023

Ghanaians will from 2023 pay more for goods and services, as government has reviewed upwards the Value Added Tax (VAT) by 2.5 percent. This was announced by the Finance Minister, Ken Ofori-Atta on Thursday when he delivered the 2023 budget statement in Parliament. The Finance Minister said this review was part of a seven-point agenda to boost the economy. Mr. Ofori-Atta further indicated that the increase is expected to yield GH¢2.70 billion, which will be used to augment funding for road infrastructure development. “Mr. Speaker, the demand for roads has become the cry of many communities in the country. Unfortunately,…