2025 Budget: E-levy, betting tax and others to be abolished – Finance minister
As part of the government’s revenue measures in the 2025 Budget, which was presented to Parliament, Finance Minister Dr. Cassiel Ato Forson declared that five nuisance taxes will be eliminated.
Dr. Forson claims that this action is consistent with the government’s pledge in the manifesto to lessen the financial strain on individuals and companies.
The Minister explained in Parliament on Tuesday, March 11, 2025, that while the government is still committed to raising non-oil tax revenue by 0.6 percentage points of GDP under the IMF-backed program, these taxes have been eliminated in order to increase tax compliance, boost business growth, and increase disposable incomes.
The five nuisance taxes removed are:
- The 10% withholding tax on lottery winnings (Betting Tax).
- The 1% Electronic Transfer Levy (E-Levy).
- The Emission Levy on industries and vehicles.
- The VAT on motor vehicle insurance policies.
- The 1.5% withholding tax on unprocessed gold winnings by small-scale miners.
Dr. Forson underlined that removing these taxes will boost economic activity and lessen household strain.
Source: Ghana/otecfmghana.com/Bismark Appiah
