The Minister of Finance, Dr. Cassiel Ato Forson, has announced the complete removal of Value Added Tax (VAT) on motor insurance policies.
This decision, led by the Ministry of Finance, is being celebrated as a major win for both drivers and everyday commuters across the country.
The removal of VAT from motor insurance is expected to lower insurance costs significantly, making vehicle ownership and travel more affordable for Ghanaians.
With this policy shift, the government aims to promote fairer pricing within the transport sector while providing much-needed financial relief to households and businesses alike.
“This initiative is part of our broader effort to ease the financial burden on Ghanaians and ensure more equitable access to essential services,” a statement from the Ministry. “Drivers and commuters, this one’s for you.”
The Ministry emphasized that the move is in line with its core values of being professional, ethical, efficient , and responsive ,highlighting its commitment to creating a more inclusive and supportive economic environment.
