• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

GRA to Impose 15% VAT on Non-Life Insurance Premiums from July 1

1 month ago
in Business, Economy, Features, highlights, Home, home-news, Insurance, latest News
1 min read
0 0
0
46
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

GRA to Impose 15% VAT on Non-Life Insurance Premiums from July 1

The Ghana Revenue Authority (GRA) will from July 1, 2025, begin applying a 15 per cent Value Added Tax (VAT) on non-life insurance premiums, in a move aimed at boosting domestic revenue mobilisation.

Announced via the Authority’s official social media channels, the tax measure will apply to a range of general insurance policies, including property, health, and travel insurance. Motor insurance premiums, however, will remain exempt.

The GRA has indicated that the new policy forms part of measures outlined in the 2025 Budget to enhance tax compliance and expand the country’s revenue base.

“Starting July 1, 2025, a 15% VAT will be applied to non-life insurance premiums in Ghana,” the Authority stated, adding that the directive aligns with government efforts to widen the tax net.

The imposition of VAT on insurance premiums effectively increases the cost of coverage for individuals and businesses, who will now be required to pay an additional 15 percent in taxes on top of their premium payments.

Industry analysts have warned the move could lead to reduced uptake of certain insurance products, especially in the informal sector.

RelatedPosts

RMA Demands Public Inquiry into Unibank Collapse, Slams AG’s Decision to Drop Charges

Revenue Mobilisation Africa Demands Independent Inquiry into Banking Sector Clean-Up, Questions GHS 25bn Public Cost

Deloitte Warns of Revenue Risks Despite Upward Revision of 2025 Targets

The new measure comes at a time when Ghana is seeking to close its fiscal gap and meet revenue targets agreed under its ongoing economic reform programme supported by the International Monetary Fund (IMF).

Tags: graGRA to Impose 15% VAT on Non-Life Insurance Premiums from July 1Insurance PremiumsNon-Life Insurance

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

DSTV Risks Suspension by August 7 for Failing to Align Prices with Regulations

Full Story: SML Disguised at Kotoka International Airport

Petrol Price Records Marginal Increase at Pumps as Diesel, LPG Decline

How New Data Standards Will Transform Our Understanding of the Global Economy

Best Airlines for Passenger Experience in 2025

GACL Contract Probe: Paul Adom-Otchere, two Others Detained Over Failure to Meet Bail Conditions

Trending

Business

RMA Demands Public Inquiry into Unibank Collapse, Slams AG’s Decision to Drop Charges

August 1, 2025

RMA Demands Public Inquiry into Unibank Collapse, Slams AG’s Decision to Drop Charges Revenue Mobilisation Africa (RMA)...

Revenue Mobilisation Africa Demands Independent Inquiry into Banking Sector Clean-Up, Questions GHS 25bn Public Cost

August 1, 2025

Deloitte Warns of Revenue Risks Despite Upward Revision of 2025 Targets

August 1, 2025

DSTV Risks Suspension by August 7 for Failing to Align Prices with Regulations

August 1, 2025

Full Story: SML Disguised at Kotoka International Airport

August 1, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.