20% VAT worsening housing affordability — GREDA

The Ghana Real Estate Developers Association (GREDA) has renewed calls for the government to scrap the 20 per cent Value Added Tax (VAT) imposed on construction of houses, saying the tax is worsening the already high cost of housing in the country.“GREDA has continued to engage the government and relevant institutions over the tax and the association is awaiting a resolution from the Ministry of Works, Housing and Water Resources and the Ghana Revenue Authority,” he stated.

According to him, the association’s engagements with the government had focused on finding ways to make housing more affordable, but the 20 per cent VAT had instead aggravated the situation.