Introducing VAT on non-life premiums in Ghana

Effective 1 July 2025, the Ghana Revenue Authority (GRA) has implemented a 15% value-added tax (VAT) on non-life insurance premiums.

This rate applies to fire, marine, travel, theft and property insurance contracts. Motor insurance is exempt from this new tax.

This move forms part of the government’s broader strategy to boost public revenue in 2025.

For both individual and corporate policyholders, the introduction of VAT will result in increased costs for non-life insurance products.