VAT on Gold in Ghana
Gold bars and tablets sold by a VAT-registered seller carry 15% VAT plus 2.5% NHIL and 2.5% GETFund levy, all on the pre-tax price, so 20% in total. Since 1 January 2026, jewellery from a VAT-registered seller carries 15% VAT plus 2.5% NHIL and 2.5% GETFund levy on the same pre-tax price, 20% in total; the old 1% COVID-19 levy is abolished. Today 10 grams of 24K gold cost GH₵14,546 at the world price and about GH₵17,456 with tax and duty.
Rules checked 26 October 2026 · Prices Oct 30, 2026, 21:55 UTC · Not tax advice
Gold in Ghana today, with tax
GHS · Oct 30, 2026, 21:55 UTC| Weight | World price, 24K gold | Bar or coin, with tax and duty | 18K jewellery metal, with tax |
|---|---|---|---|
| 1 gram | GH₵1,455 | GH₵1,746 | GH₵1,309 |
| 10 grams | GH₵14,546 | GH₵17,456 | GH₵13,092 |
| 1 ounce | GH₵45,244 | GH₵54,293 | GH₵40,720 |
| 100 grams | GH₵145,464 | GH₵174,556 | GH₵130,917 |
| 1 kilo | GH₵1,454,635 | GH₵1,745,562 | GH₵1,309,172 |
The rules in Ghana
| What you buy | Tax | Details |
|---|---|---|
| Bars and bullion coins | 20% | Gold bars and tablets sold by a VAT-registered seller carry 15% VAT plus 2.5% NHIL and 2.5% GETFund levy, all on the pre-tax price, so 20% in total. Under the VAT Act, 2025 (Act 1151), in force since 1 January 2026, no gold, bullion or investment-gold exemption appears in the First (exempt), Second (zero-rated) or Third (relief) Schedules. GoldBod's 1 g to 1 oz 99.99% gold tablets are priced from spot plus refining and minting costs, packaging, a markup and 'applicable VAT and taxes' (GoldBod FAQ). The Bank of Ghana Gold Coin, sold to residents only through commercial banks, was VAT-free under the old Act 870: at launch in November 2024 its 1 oz price was about 8.5% above the LBMA price times the cedi rate, a gap too small to include the old 21.9% VAT. Its status under Act 1151 has not been confirmed. The VAT (Amendment) Bill, 2026, passed by Parliament in late July 2026, zero-rates local purchases of gold under the reserve-accumulation programme, meaning wholesale purchases by the state, not retail sales to individuals. Sellers below the GH¢750,000 registration threshold do not charge VAT. |
| Jewellery | 20% | Since 1 January 2026, jewellery from a VAT-registered seller carries 15% VAT plus 2.5% NHIL and 2.5% GETFund levy on the same pre-tax price, 20% in total; the old 1% COVID-19 levy is abolished. Charged on: full value. |
| Import duty | 0% | Ghana is a gold producer, and both GoldBod tablets and the Bank of Ghana coin are made from locally sourced gold priced off the international spot or LBMA price, so no import duty is built into the metal price. Imported finished jewellery pays the ECOWAS Common External Tariff plus import VAT and levies; that duty rate was not verified. |
| Tourist refund | No | No working tourist VAT refund. Act 1151 zero-rates 'tourist exports' only where and to the extent regulations provide, and no implementing regulations or refund operator were found. |
Compared with nearby countries
| Country | Bars and coins | Jewellery | Import duty |
|---|---|---|---|
| Ghana | 20% | 20% | none |
| UAE | 0% | 5% | none |
| Saudi Arabia | 0% | 15% | none |
| Kuwait | 0% | 0% | none |
| Qatar | 0% | 0% | none |
| Bahrain | 0% | 10% | none |
| Oman | 0% | 5% | none |
| Egypt | 0% | 0% on the gold | none |
| South Africa | 0% | 15% | none |
| Nigeria | 7.5% | 7.5% | none |
| Kenya | 16% | 16% | none |
VAT on Gold in Ghana: FAQ
Is there VAT on gold in Ghana?
Gold bars and tablets sold by a VAT-registered seller carry 15% VAT plus 2.5% NHIL and 2.5% GETFund levy, all on the pre-tax price, so 20% in total. Since 1 January 2026, jewellery from a VAT-registered seller carries 15% VAT plus 2.5% NHIL and 2.5% GETFund levy on the same pre-tax price, 20% in total; the old 1% COVID-19 levy is abolished.
Do you pay VAT on gold bars and coins in Ghana?
Gold bars and tablets sold by a VAT-registered seller carry 15% VAT plus 2.5% NHIL and 2.5% GETFund levy, all on the pre-tax price, so 20% in total. Under the VAT Act, 2025 (Act 1151), in force since 1 January 2026, no gold, bullion or investment-gold exemption appears in the First (exempt), Second (zero-rated) or Third (relief) Schedules. GoldBod's 1 g to 1 oz 99.99% gold tablets are priced from spot plus refining and minting costs, packaging, a markup and 'applicable VAT and taxes' (GoldBod FAQ). The Bank of Ghana Gold Coin, sold to residents only through commercial banks, was VAT-free under the old Act 870: at launch in November 2024 its 1 oz price was about 8.5% above the LBMA price times the cedi rate, a gap too small to include the old 21.9% VAT. Its status under Act 1151 has not been confirmed. The VAT (Amendment) Bill, 2026, passed by Parliament in late July 2026, zero-rates local purchases of gold under the reserve-accumulation programme, meaning wholesale purchases by the state, not retail sales to individuals. Sellers below the GH¢750,000 registration threshold do not charge VAT.
Is there import duty on gold in Ghana?
Ghana is a gold producer, and both GoldBod tablets and the Bank of Ghana coin are made from locally sourced gold priced off the international spot or LBMA price, so no import duty is built into the metal price. Imported finished jewellery pays the ECOWAS Common External Tariff plus import VAT and levies; that duty rate was not verified.
Can tourists claim back the VAT on gold in Ghana?
No. No working tourist VAT refund. Act 1151 zero-rates 'tourist exports' only where and to the extent regulations provide, and no implementing regulations or refund operator were found.
Why is the gold price in Ghana different from the world price?
GoldBod prices its tablets at spot plus refining and minting costs, packaging and a markup, updated every Monday (rate not published). The Bank of Ghana Gold Coin sold at about 8.5% (1 oz) to 8% (1/4 oz) above LBMA PM x USD/GHS at launch on 26 November 2024 (GH¢45,020.48 for 1 oz at $2,635.40 and 15.75).
Sources (11)
- Ghana Revenue Authority: Value Added Tax (VAT Act 2025, Act 1151; 15% VAT, 2.5% NHIL, 2.5% GETFund on the same base) (2026)
- KPMG TaxNewsFlash: Ghana VAT measures from 2026 budget enacted (combined rate cut from 21.9% to 20%) (2026-02)
- EY: Ghana's Parliament enacts several indirect-tax laws effective 1 January 2026 (2026-01-12)
- EY reference guide to the new VAT Act 2025 (Act 1151), via UKGCC (aggregate rate 20%) (2026)
- TaxLawGH: Ghana VAT exempt, zero-rated and relief supplies under Act 1151 (no gold exemption; tourist exports only as regulations provide) (2026-07-26)
- GoldBod Jewellery FAQs (tablet price includes applicable VAT and taxes) (2026)
- B&FT: Why is investment gold VAT-taxed? (GoldBod tablets) (2026-07-08)
- Bloomberg Tax: Ghana Parliament considers VAT (Amendment) Bill 2026 (zero-rating of domestic gold under reserve programme) (2026-08-19)
- AllAfrica / Ghanaian Times: four bills to strengthen tax system passed by Parliament (2026-07-31)
- Afriwise: understanding the Bank of Ghana Gold Coin (not subject to VAT at the time) (2024-10-16)
- Citi Newsroom: BoG's gold coin launched; prices range from GH¢11K to GH¢45K (2024-11-27)
Related
General information on the tax a private buyer pays, checked 26 October 2026. Rules change; check with the seller, the tax authority or an adviser. Not tax advice.