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Ghana's finance minister plans to scrap several taxes and remove exemptions to boost the economy.
In Ghana's 2025 Budget, Finance Minister Dr. Cassiel Ato Forson announced plans to scrap multiple taxes, including the E-Levy, Betting Tax, and VAT on motor vehicle insurance, to boost disposable income and support businesses.
The government also aims to remove GH¢7 billion in tax exemptions to increase revenue and fund infrastructure, education, and healthcare.
To address the fiscal gap, the government will reduce the tax refund ceiling from 6% to 4%, enhance revenue mobilization, and cut expenditures.
The Institute of Economic Affairs recommends further fiscal consolidation and rationalized expenditure to ensure sustainable economic recovery.
El ministro de Finanzas de Ghana planea desechar varios impuestos y eliminar exenciones para impulsar la economía.