Ghana has introduced a 15% VAT on non-life insurance premiums, effective July 1, 2025
Ghana has introduced a 15% VAT on non-life insurance premiums, effective July 1, 2025.
According to the Ghana Revenue Authority (GRA), motor insurance remains exempt.
The Minister of Finance, Dr Cassiel Ato Forson, announced in the 2025 budget the exemption of motor vehicle insurance from taxation.
Enterprise Insurance has announced the implementation of the 15% Value Added Tax (VAT) and 6% levies on all non-motor insurance policies, excluding bonds, in compliance with the VAT (Amendment) Act, 2023 (Act 1107).
In a notice to customers, Enterprise Insurance said the move is in line with government policy and regulatory requirements.
“Effective 1st July 2025, all Non-Motor Insurance policies (excluding Bonds) will attract VAT of 15% and levies of 6%, in accordance with the VAT (Amendment) Act, 2023,” the GRA said.
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