COVID Levy to be Abolished Under New VAT Act

Finance Minister Dr. Cassiel Ato Forson has announced that the COVID levy will be abolished as part of the new Value Added Tax (VAT) Act, expected to be laid before Parliament in October 2025.

This move aims to provide relief to taxpayers and stimulate economic growth.

The proposed VAT Act is expected to introduce changes to the tax regime, including the abolition of the COVID levy.

Dr. Forson emphasized that the new Act will provide clarity and certainty on tax matters, promoting a more favorable business environment.

The abolition of the COVID levy is expected to provide economic relief to individuals and businesses, potentially leading to increased consumer spending and investment.

The government’s decision reflects its commitment to supporting economic development and growth.