Professional services firm PricewaterhouseCoopers (PwC) is urging Finance Minister Dr. Cassiel Ato Forson to provide updates on planned Value Added Tax (VAT) reforms and other tax measures during the upcoming mid-year budget review on July 24.
In its maiden budget earlier this year, the government outlined plans to implement VAT reforms over the course of 2025.
Speaking to Citi Business News, PwC Senior Partner, Vish Ashiagbor called for greater clarity on the current tax framework.
“We expect the Minister to confirm that the budget presented in March is largely on track. That stability has been reassuring for the business community,” Ashiagbor said.
“However, you’ll recall that the March budget also raised expectations around VAT system reforms and the potential removal of levies such as the COVID-19 tax. At the time, we were told more assessment was needed before implementation.”
The business community is now looking to the mid-year review for clearer timelines and direction on these tax policy changes.
Credit: CNR