The Parliament of Ghana passes the Income Tax (Amendment) Act, 2017, Act 941 to exempt from tax any gains made by a person from the realization of securities listed on the Ghana Stock Exchange.

Ghana passes the Value Added Tax (Amendment) Act, 2017, Act 948 to amend the Value Added Tax Act, 2013 (Act 870). The primary focus of the amendment is to classify the supply of financial services, domestic transportation of passengers by air and supply of immovable property by a real estate developer as exempt supplies, to give legal backing to a VAT Flat Rate Scheme that will facilitate collection of VAT on the supply of goods in the distribution chain and to provide for related matters.

In the 2017 Budget of Ghana presented by the Hon. Ken Ofori Atta, the government indicated its plan to remove the 1% special import levy on specified imported goods. To give effect to that, the Parliament of Ghana has passed the Special Import Levy (Amendment) Act, 2017, Act 944 to remove the levy payable on specific imported goods.

On 2 March 2017 the Finance Minister of the Republic of Ghana, Ken Ofori-Atta read the first budget of President Nana Addo Dankwa Akufo-Addo. This Tax Alert highlights the key tax issues in the Budget presented to the Parliament of Ghana on 2 March 2017.