VAT scrapped on selected raw materials for medicines

Health Minister Kwaku Agyemang Manu.jpeg Minister of Health, Kwaku Agyemang Manu

Tue, 1 Mar 2022 Source: www.ghanaweb.com

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Minister of health, Kwaku Agyeman-Manu has stated that government has taken steps to ensure fair pricing and reduction in the cost of medicines in Ghana.

This is to improve access to medications and achieve Universal Health Coverage.

The steps include the scrapping of Value Added Tax, VAT, on selected raw materials and equipment used in the production of medicines.

The Minister of Health disclosed this 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.”

He also stated that 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.

Source: www.ghanaweb.com
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