Ghana’s Minister of Finance, Dr. Carson Ato Forson, has announced plans to abolish several nuisance taxes introduced by the previous New Patriotic Party (NPP) government.
The move aims to ease the burden on households, promote business growth, and improve tax compliance¹.
During the 2025 budget presentation, Dr. Forson highlighted the government’s intention to scrap the following taxes:
– Electronic Transfer Levy (E-Levy): A 1% tax on electronic transfers, including mobile money transactions and bank transfers.
– Betting Tax: A 10% withholding tax on lottery and betting winnings.
– Emission Levy: A tax on carbon emissions from vehicles and industries.
– VAT on Motor Vehicle Insurance Policy: A 21% VAT rate on non-life insurance products, including motor insurance and liability insurance.
– Tax on Mining of Unprocessed Gold: A 5% tax on the income of small-scale miners ¹.
The government plans to implement revenue measures to offset the revenue losses resulting from the abolishment of these taxes. While no specific timeline has been provided, Dr. Forson assured that the promise to abolish these taxes, made during the NDC’s campaign, will be fulfilled.
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