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COVID-19 levy, NHIS levy to be abolished in 2026 — Finance Minister

Finance Minister announces plans to scrap COVID-19 and NHIS levies by 2026 during mid-year budget

Kojo Emmanuel by Kojo Emmanuel
July 24, 2025
in Business, Local, Main, News
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Finance Minister Dr. Cassiel Ato Forson has announced sweeping reforms to Ghana’s Value Added Tax (VAT) system as part of efforts to reduce the tax burden on citizens and eliminate the cascading impact of multiple levies, including the COVID-19 levy and the NHIS levy, in 2026.

Presenting the 2025 Mid-Year Budget Statement to Parliament on Thursday, July 24, 2025, Dr. Forson outlined key policy changes the Mahama administration plans to implement to build a fairer and more growth-oriented tax regime.

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Among the proposed reforms are the abolition of the COVID-19 Levy, reduction of the VAT Flat Rate, and removal of the National Health Insurance Scheme (NHIS) Levy and GETFUND from the VAT structure. The current VAT Flat Rate will also be scrapped entirely and replaced with a unified VAT rate system.

“These reforms will be finalised by October 2025 and incorporated into the 2026 budget,” Dr. Forson said. “We aim to eliminate punitive and cascading effects within the VAT framework, thereby creating a more transparent and equitable system.”

He noted that the changes are part of a broader economic strategy that includes enhancing domestic revenue mobilisation, strengthening public financial management, and supporting the central bank’s monetary policy framework.

Dr. Forson added that a new VAT Bill will be drafted by October 2025 and presented to Parliament for approval as part of the 2026 budget cycle.

He expressed confidence that the reforms will not only provide relief to the average Ghanaian but also foster inclusive economic growth and restore macroeconomic stability.

The COVID-19 Levy is a special tax introduced by the Government of Ghana in 2021 to help finance expenditures related to the COVID-19 pandemic.

It is a 1% levy applied to the Value Added Tax (VAT) based on both goods and services, including imports. The purpose was to support healthcare infrastructure, vaccine procurement, and economic recovery efforts.

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Tags: COVID-19Dr. Cassiel Ato ForsonValue Added Tax
Kojo Emmanuel

Kojo Emmanuel

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