Finance Minister Dr. Cassiel Ato Forson has announced the removal of five taxes as part of the government’s revenue measures.
The taxes to be removed include the 1% Electronic Transfer Levy (E-Levy), the 10% withholding tax on lottery winnings (Betting Tax), the Emission Levy, VAT on motor vehicle insurance policies, and the 1.5% withholding tax on unprocessed gold earnings by small-scale miners.
Dr. Forson made this announcement while presenting the 2025 Budget Statement and Fiscal Policy on Tuesday, March 11, 2025.
He stated that this decision aligns with the National Democratic Congress (NDC) manifesto promise and is meant to reduce the financial burden on citizens and businesses.
The Minister expressed confidence that removing these taxes will ease pressure on households and boost economic activity.
He added that while the government aims to increase non-oil tax revenue by 0.6% of GDP under the IMF-supported program, eliminating these taxes will help increase disposable income, support business growth, and improve tax compliance.
