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| Good News for Taxpayers: E-levy and Betting Tax Abolished in 2025 Budget |
The Finance Minister, Dr. Cassiel Ato Forson, on Tuesday, March 11 revealed some exciting news for taxpayers in the government's 2025 budget. He announced that the Electronic Transaction Levy (E-levy) and the 10% tax on lottery winnings, also known as the betting tax, will be abolished.
Also read, Power Partnership: How Madina Job Center & NYA Are Tackling Ghana's Youth Unemployment Crisis
In addition to the E-levy and betting tax, the Minister also mentioned that other taxes, including the Emissions tax, will be canceled. The government is also planning to review the Value Added Tax system and eventually get rid of the COVID-19 levy.
The Finance Minister said the COVID-19 Levy, introduced during the pandemic to support public health expenditures and economic recovery efforts, will be abolished by the end of the year.
Dr. Forson explained that removing these taxes will not only ease the financial burden on households but also boost business growth and improve tax compliance. The government's goal is to support smaller operators in sectors like mining by eliminating the 1.5% withholding tax on processed gold for small-scale miners.
Also read, Power Partnership: How Madina Job Center & NYA Are Tackling Ghana's Youth Unemployment Crisis
These tax cancellations are part of the government's efforts to fulfill its promises to taxpayers and stimulate economic growth as promised during their campaign.
Download the full Budget and Share your views on the budget with us below
Full Text: 2025 Budget
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