Member of Parliament for Old Tafo in the Ashanti Region, Vincent Ekow Assafuah, has condemned the decision by the Ghana Revenue Authority to impose a 15% VAT on non-life insurance premiums in Ghana.
The Ghana Revenue Authority in a post shared via social media said “Important Update: Starting July 1, 2025, a 15% VAT will be applied to non-life insurance premiums in Ghana. Know what this means for you”.
Since the post was shared, several concerns have been raised, especially by the minority in Parliament, who believe the move is sheer wickedness on the part of the government.
In a post shared via social media, Vincent Ekow Assafuah could not fathom why the government would impose such a draconian tax on the people of Ghana in these hard times the country finds itself in.
To Assafuah, for a government that assured the people of Ghana of a reset to a better life, such a draconian tax is a big betrayal of the Ghanaian people.
To him, this will be a problem, especially for trotro drivers who will have to cough up huge sums of money to insure their cars, which has not been the case in the past.
His post shared via social media read, “They Promised to Protect the Poor. Now They’re Taxing Your Safety!
From zero percent (0%) to a painful 15% VAT, Ghanaians are now being taxed just for trying to be responsible.
Effective July 1, 2025, every non-life insurance premium, motor, fire, property, travel, business, will attract 15% VAT.
This is not just a policy.
It is a tax on survival.
A tax on safety.
And yes, a tax on the struggling Ghanaian.
As a representative of the people, I cannot sit in silence.
These premiums have always been VAT-exempt (0%), because even governments knew taxing protection was reckless.
So why now?
Why make it harder for the driver to insure his trotro?
Why punish a young entrepreneur for securing her shop?
Why slap a fresh tax on the few who actually use insurance in this country?
But here’s the biggest betrayal, the same voices that cried “nuisance tax!” are now dead silent.
Where is the outrage from the NDC?
Where are the defenders of the poor?
Where are the press conferences and slogans?
You don’t oppose E-Levy and embrace this.
You don’t preach principle and practice silence.
This is not leadership. This is betrayal.
Let it be known:
We will not support this 15% VAT on insurance.
We will not tax protection.
We will not stay quiet while the people suffer.
Ghana deserves consistency, not convenience. Truth, not tactics.
Hon. Vincent Ekow Assafuah, Esq
Ranking, Youth and Sports & Member of the Economic committee.
