Gov’t set to introduce necessary measures to eliminate e-levy, emission levy, betting, other taxes
Gov't set to introduce necessary measures to eliminate e-levy, emission levy, betting, other taxes
Minister of Finance Dr Cassiel Ato Baah Forson has announced plans to present the necessary instruments for abolishing several taxes in the 2025 budget statement.
The Finance Minister made this announcement when presenting the 2025 Budget Statement and Economic Policy of the Government of Ghana during his presentation in Parliament on Tuesday. March 11, 2025.
According to him, the positive impact these tax cut measures will have on disposable incomes and business growth is enormous.
“Mr. Speaker, we will abolish the 10% withholding tax on winnings from lottery, otherwise known as the ‘Betting Tax’; we will abolish the Electronic Transfer Levy (E-Levy) of 1%; we will abolish the Emission Levy on industries and vehicles; we will abolish the VAT on motor vehicle insurance policy; and we will abolish the 1.5% withholding tax on winning of unprocessed gold by small-scale miners,” Dr. Forson announced.
He further explained that the removal of these taxes is intended to ease the burden on households and improve their disposable incomes.
“Mr. Speaker, the removal of these taxes will ease the burden on households and improve their disposable incomes. In addition, it will support business growth and improve tax compliance,” the finance minister reiterated.
