2025 Budget: ‘We Will Abolish E-Levy And Betting Tax’ – Finance Minister Ato Forson Assures
The John Mahama administration has indicated that the Electronic Transactions Levy (E-Levy) and the 10% tax on betting will be scrapped.
Finance Minister, Dr. Cassiel Ato Forson, presenting the 2025 budget statement at Parliament today, announced this stressing it will help to reduce the financial burden on Ghanaians and support Ghana’s economic recovery.
The E-Levy and betting tax were introduced by the previous Akufo-Addo government as part of its measures to recover the economy and improve infrastructure development following the COVID pandemic and in response to the negative impact of the Russia/Ukraine war.
Dr. Forson stated; “We will abolish the 10% withholding tax on winnings from the lottery, otherwise known as the Betting Tax; we will abolish the Electronic Transfer Levy (E-Levy) of 1%.”
He noted that “the removal of these taxes is part of our strategy to ease the cost of living and restore confidence in the economy”.
Additionally, the Minister stressed “we will abolish the Emission Levy on industries and vehicles; we will abolish the VAT on motor vehicle insurance policy”.
He further said; “We are working on a tax structure that encourages production and business expansion without suffocating individuals and small enterprises.”
Source: Ghmessenger.com
