Finance Minister Dr. Cassiel Ato Forson has announced a series of tax abolitions aimed at alleviating the financial burden on Ghanaians and boosting economic activity.

Presenting the 2025 Budget Statement to Parliament on Tuesday, March 11, Dr. Forson reaffirmed the government’s commitment to fulfilling its manifesto promises by scrapping key taxes affecting individuals and businesses.

“We have programmed the following taxes for removal in line with our manifesto promises. Mr Speaker, we will abolish the 10% tax on winnings from lottery,” he declared.

He further stated that the government would also eliminate the 10% withholding tax on betting, the emission levy, and the VAT on motor vehicle insurance policies.

Additionally, the Finance Minister revealed plans to scrap the 1.5% withholding tax on processed gold for small-scale miners. The move is expected to provide significant relief for operators in the mining sector, particularly small-scale miners, who have long decried the financial burden imposed by the tax.

“The removal of these taxes will ease the burden on households and improve their disposable income. It will support business growth and improve tax compliance,” Dr. Forson assured Parliament.

The announcement comes as part of the Mahama-led administration’s broader strategy to revive the economy, promote investment, and enhance livelihoods. The decision to scrap the Electronic Transaction Levy (E-Levy) and betting tax aligns with the government’s pledge to create a more business-friendly environment while ensuring that citizens have more disposable income.

With these tax cuts, the government aims to stimulate economic activity, encourage compliance, and provide much-needed relief to sectors that have struggled under the weight of excessive taxation. Parliament is expected to deliberate on the budget in the coming weeks, with stakeholders keenly watching how these tax policies will be implemented.

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