channel247online
The Mahama administration has scrapped the Electronic Transactions Levy (E-Levy) and the 10% tax on betting, citing the need to reduce the financial burden on Ghanaians and support economic recovery.
Presenting the 2025 Budget Statement and Economic Policy to Parliament on March 11, 2025, Finance Minister Dr Cassiel Ato Forson said the taxes, introduced by the previous administration, failed to generate the expected revenue and worsened the cost of living crisis.
“The removal of these taxes is part of our strategy to ease the cost of living and restore confidence in the economy,” Dr Forson told lawmakers.
The E-Levy, introduced in 2022, was met with widespread opposition, as many Ghanaians argued it placed an unfair burden on low-income earners and small businesses.
The betting tax also faced resistance, particularly among the youth, who viewed it as a barrier given the limited formal job opportunities available.
Beyond these tax cuts, Dr Forson announced that the government would introduce targeted tax reliefs for businesses and traders to help drive economic growth.
“We are working on a tax structure that encourages production and business expansion without suffocating individuals and small enterprises,” he said.
Dr Forson added that the government would prioritise improving revenue collection rather than imposing new taxes, ensuring that the state raises enough funds for development projects without increasing the tax burden on citizens.
source: graphic.com.gh
Yaw Boagyan
Rafiq Adam
