Act 1068, the COVID-19 recovery levy act has been assented into law by President Akufo-Addo.
The presidential assent was given on the 31st of March 2021.
Goods and Services in the country, be they locally produced or imported are to be affected with the Act specifically emphasizing that this levy is to be charged separately from VAT charges.
The rate to be charged in this regard is a flat 1% according to the Act. However, the Minister of Finance can review this levy
The COVID-19 relief recovery act is to be governed by the Revenue Administration Act, 915. The Commissioner-General of the Ghana Revenue Authority is also to be responsible for the collection of the levy according to the Act.
According to the Act, the Commissioner-General will pay the revenues collected into a sub-account of the Consolidated Fund dedicated to the Covid-19 health recovery collections.
The COVID-19 Health revenue recovery law is one of a slew of taxes that the Akufo-Addo government introduced in the 2021 budget.
it is aimed to claw back monies that the government claims to have spent to bring relief to the public during the outbreak of the COVID-19 pandemic.