Ghana Scraps E-Levy and Other Taxes in 2025 Budget
Ghana, 2025 Budget, E-Levy, Tax Reform, Business GrowthIn a significant move, Ghana’s Finance Minister, Dr. Cassiel Ato Forson, unveiled the 2025 budget with a major tax overhaul aimed at easing financial pressures on citizens and fostering business growth. The government has decided to remove several taxes, including the controversial Electronic Transfer Levy (E-levy) and the Betting Tax, which have been major points of contention in recent years.The scrapped taxes include:A 10% withholding tax on lottery winnings (Betting Tax)A 1% E-levy on digital transactionsThe 10% withholding tax on betting activitiesEmissions Levy on industries and vehiclesVAT on motor vehicle insurance policiesA 1.5% withholding tax on unprocessed gold by small-scale minersThese tax removals, originally introduced to expand the government’s revenue base, are now being reversed to alleviate financial burdens on households and support business operations. Dr. Forson emphasized that the aim is to […]
