The Ghana Revenue Authority (GRA) has announced a revenue target of GH₵225 billion for 2026, following the introduction of new reforms to the Value Added Tax (VAT) system.

Under the revised rules, businesses dealing in goods are no longer required to register for VAT only after reaching an annual turnover of GH₵750,000, up from the previous threshold of GH₵200,000.

Other changes include the allowance of input tax credits on NHIL and GETFund levies, a reduction of the effective VAT rate to 20%, and the elimination of the VAT Flat Rate Scheme.

Addressing journalists after appearing before Parliament’s Public Accounts Committee on Monday, January 12, GRA Commissioner-General Anthony Sarpong emphasized the authority’s commitment to improving domestic tax compliance to achieve the set target.

“We have projected GH₵225 billion for 2026. At GRA, this is our core responsibility. From the start of the year, we are actively working to ensure effective revenue mobilisation. Revenue collection is the lifeblood of national development, and without it, the President’s vision for the country cannot be realised,” he stated.