Finance Minister, Dr. Cassiel Ato Forso n, has welcomed the abolition of several taxes, including the Electronic Transfer Levy (E-Levy), Betting Tax, and Emissions Tax, following President John Dramani Mahama’s approval of key legislative bills. The move is seen as the fulfillment of a major campaign promise made by President Mahama during his election campaign.

In a statement released on April 2, 2025, Dr. Forson declared the abolition a success, taking to Twitter to announce, “It is finished,” signaling the completion of the tax reforms pledged by the government within the first 120 days of its administration.

The scrapping of these taxes marks a significant step in the government’s efforts to reduce the financial burden on Ghanaians, particularly amidst growing concerns about the impact of certain levies on businesses and everyday citizens.

The legislation includes the following key bills:

• Electronic Transfer Levy (E-Levy) Repeal Bill 2025: This bill officially revokes the controversial E-Levy, which taxed mobile money transactions and electronic transfers. The levy had faced significant public backlash for its impact on digital transactions.
• Emissions Levy Repeal Bill: The bill eliminates the emissions tax, which was introduced to reduce pollution but received criticism from businesses and the public for its perceived burden on economic activities.
• Value Added Tax (VAT) Amendment Bill: The amendment seeks to improve VAT compliance and reduce the burden on consumers and businesses.
• Income Tax Amendment Bill 2025: This bill modifies income tax rates and exemptions in an effort to improve tax fairness and revenue collection.
• Petroleum Revenue Management Amendment Bill 2025: The bill revises the management of revenues from the petroleum sector to ensure more effective use of funds.
• Public Financial Management Amendment Bill: Aims to enhance government transparency and accountability in spending and fiscal policies.
• Earmarked Funds Capping and Realignment Bill: Seeks to improve budget efficiency by capping and realigning earmarked funds.
• Energy Sector Levy Act: Focuses on restructuring levies within the energy sector to improve sustainability and investment.
• Gold Board Bill 2025: Establishes a framework to regulate gold mining, trade, and export, enhancing the sector’s contribution to the economy.
• Growth and Sustainability Levy Act: Introduces measures to ensure long-term economic stability and fiscal sustainability.

This series of legislative changes comes as part of the government’s broader agenda to ease the tax burden on Ghanaians and encourage economic growth.

Source:TheDotNews