The Minister for Finance, Dr. Cassiel Ato Forson, has announced the fulfillment of President John Dramani Mahama’s promise to abolish certain taxes within the first 120 days of his administration.
The abolished taxes include the Electronic Transfer Levy (E-Levy), Betting Tax, and Emissions Tax.
His statement follows President Mahama’s assent to a series of legislative bills on April 2, 2025, officially eliminating these taxes.
The move aligns with the National Democratic Congress (NDC) commitment to alleviating the financial burden on Ghanaians.
Reacting to the President’s approval, Dr. Ato Forson took to Twitter on Wednesday, April 2, declaring, “It is finished,” signaling the successful completion of President Mahama’s tax reform pledge.
Key Bills Assented to by President Mahama
- Electronic Transfer Levy (E-Levy) Repeal Bill 2025 – This bill officially revokes the controversial E-Levy, which imposed taxes on mobile money transactions and electronic transfers.
- Emissions Levy Repeal Bill – The bill removes the emissions tax, which was introduced to curb pollution but faced backlash from businesses and the public.
- Value Added Tax (VAT) Amendment Bill – Adjustments to the VAT regime aimed at improving compliance and easing the burden on consumers and businesses.
- Income Tax Amendment Bill 2025 – This amendment seeks to modify tax rates and exemptions to enhance revenue collection and fairness in taxation.
- Petroleum Revenue Management Amendment Bill 2025 – Revises the framework for managing revenues from the petroleum sector to ensure more effective allocation of funds.
- Public Financial Management Amendment Bill – Enhances transparency and accountability in government spending and fiscal policies.
- Earmarked Funds Capping and Realignment Bill – Aims to improve efficiency in budget allocations by capping and realigning earmarked funds.
- Value Added Tax (VAT) Amendment Bill 2025 – A further amendment addressing specific areas of VAT administration.
- Energy Sector Levy Act – Focuses on restructuring levies within the energy sector to enhance sustainability and investment.
- Gold Board Bill 2025 – Establishes a regulatory framework for gold mining, trade, and export to boost the sector’s contribution to the economy.
- Growth and Sustainability Levy Act – Introduces measures to ensure long-term economic stability and fiscal sustainability.
