Ghana: Implemented Value Added Tax (Amendment) (No. 2) Act, 2022 (Act 1087) exempting stakes in betting and gaming

On 1 January 2023, the Value Added Tax (Amendment) (No. 2) Act, 2022 (Act 1087) enters into force. The Act amends the Value Added Tax Act, 2013 (Act 870). The Act increases the standard VAT rate from 12.5% to 15%. The amendments expand VAT exemptions to include wagers and stakes in gaming and betting activities while removing exemptions for imported textbooks and other educational materials. The Act also introduced the mandatory use of Certified Invoicing Systems (CIS), requiring integration with the national invoicing system and certification by the Ghana Revenue Authority. Noncompliance incurs penalties of the greater of GHS 50'000 or three times the tax amount, alongside existing sanctions under the VAT Act.