Ghana scraps VAT on selected raw materials for medicines

Kwaku Agyemang-Manu, Health minister

By Nathaniel Nartey

Government has taken steps to ensure fair pricing and reduction of in the cost of medicines in a bid to improve access to medications and achieve Universal Health Coverage. These include the scrapping of Value Added Tax, VAT on selected raw materials and equipment used in the production of medicines. This was made known by the Minister of Health Kweku Agyeman Manu at the Closing ceremony of the maiden Assembly of Health Ministers in West Africa, held in Accra.

“Interventions rolled out by Government to support the agenda towards improved access to medicines, include restricted selected products for local manufacture, the framework contract agreements (for volume-based pricing intervention) and the Value Added Tax (VAT) exemption policy (LI 2255), which removes VAT for active pharmaceutical ingredients, manufacturing inputs and selected finished pharmaceutical products.”

Mr. Agyeman Manu said government has also taken steps to improve the National Health Insurance Scheme by including certain diseases not covered under the scheme such as treatment of cancer.

Read More: https://www.gbcghanaonline.com/category/news/business/

LEAVE A REPLY

Please enter your comment!
Please enter your name here