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<\/figure>\n\n\n\nThe government announced in the 2021 budget that it will be introducing a COVID-19 Health Levy of 1% on VAT, Flat Rate Scheme (VFRS), and a 1% on National Health Insurance Levy (NHIL) as part of revenue measures to help the economy recover from the effects of the COVID-19 pandemic.<\/p>\n\n\n\n
The then Caretaker Finance Minister, Osei Kyei-Mensah-Bonsu who announced the new levy during the 2021 budget reading said the levies will be used for the procurement of vaccines and the establishment of 14 medical waste treatment facilities.<\/p>\n\n\n\n
The COVID-19 Health Recovery Levy Act \u201cimposes a one percent levy on the supply of goods and services made in the country, other than exempt goods or services and the import of goods and services, other than exempt imports\u201d.<\/p>\n\n\n\n
The Parliamentary Affairs Minister said the levy \u201cwill also assist in the construction of 33 major health projects, the recruitment of more health professionals and agenda 111.\u201d<\/p>\n\n\n\n
Parliament approved the new tax and others which will take effect on May 1, 2021.<\/p>\n\n\n\n
Source: citinewsroom.com<\/p>\n\n\n\n