Government Suspends Implementation Of 17.5% VAT

Citi Business News has gathered that government has directed the Ghana Revenue Authority (GRA) to suspend the implementation of the 17.5 percent Value Added Tax (VAT) charges on non-core financial services.

Industry, the Private Enterprise Federation (PEF) and unionized workers have been pressurizing government to withdraw the 17.5 per cent VAT.

According to them, the move will further cripple their businesses which are already reeling under the pressures of power interruption and unfavourable business environment.

It is unclear yet if government is suspending the implementation of the 17.5 percent VAT because of the pressures from these quarters.

Meanwhile, the Ghana Revenue Authority is expected to officially announce the decision today and explain the reasons for the suspension.