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Mid-year review includes update on tax measures in 2023 budget

On 31 July 2023, Ghana’s minister of finance presented the Mid-Year Fiscal Policy Review of the Budget Statement and Economic Policy of the Government of Ghana for the 2023 Financial Year (the “mid-year review”) to parliament, in line with section 28 of the Public Financial Management Act, 2016 (Act 921). The mid-year review does not introduce or revise any tax measures, but provides an update on the increased government efforts announced in the 2023 budget statement to maximize domestic tax revenue from existing tax measures.

This article provides a summary of the key tax updates provided in the mid-year review.


Implementation of previously announced revenue measures


This will include issuing administrative guidelines and practice notes implementing the following:

  • A 20% tax on gross gaming revenue from lottery businesses;
  • A 10% withholding tax on lottery winnings;
  • A 5% tax on turnover under the minimum chargeable income regime;and
  • An upfront VAT penalty for unregistered importers eligible for VAT registration.


Review of the classification and values in the integrated customs management system

The current common external tariff schedule was issued in 2017. The government is currently working with the regional body ECOWAS (Economic Community of West Africa States) to issue an updated version.



Enhancement of anti-abuse measures in customs operations is expected, alongside an increased oversight of import duty suspension regimes that allow importers to suspend payment of import duties on goods held in bonded warehouses. The measures are expected to include special customs audits for free zone entities.

Implementation of the Exemptions Act, 2022 (Act 1083)


Related administrative guidelines and regulations are expected. The purpose of the Exemptions Act, 2022 is to provide a legal framework to standardize the granting, reporting, monitoring, and evaluation of tax exemptions.


Deloitte Ghana comments


With a large number of new taxes introduced with effect from the beginning of 2023, further major tax developments were not expected in the mid-year review. However, in the second half of 2023 we expect increased activity by the tax authorities aimed at increasing domestic tax revenue, especially through tax audits and enforcement actions.Businesses may wish to consider undertaking internal tax “health reviews” to ascertain their level of compliance with applicable laws, and take remedial actions where necessary. Those affected by the tax laws coming into effect in the second half of 2023 may also wish to consider taking steps to ensure their operations meet their tax obligations.

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