Cassiel Ato-Forson, Minister of Finance presented the 2025 budget on March 11, 2025
The Minister of Finance, Dr. Cassiel Ato Forson, has stated that the government’s promise to reduce the tax burden on Ghanaians has been fulfilled following the announcement of the abolition of certain taxes in the 2025 budget.
He announced that the 10% tax on earnings from lotteries and other games, the 1% electronic levy, the Emission Levy on industries and vehicles, the VAT on motor vehicle insurance policies, and the 1.5% withholding tax on the mining of unprocessed gold by small-scale miners will be abolished.
According to him, these measures are aimed at providing relief to the ordinary Ghanaian.
“Mr. Speaker, to address concerns from well-meaning Ghanaians about how we will offset the revenue shortfall resulting from the removal of selected taxes, the answer is that we have stopped the bleeding.
“Along with this budget, we will amend the Revenue Administration Act, 2016 (Act 915). This measure will improve tax revenue, net of tax refunds, by 2%, representing 0.3% of GDP,” he said during the presentation of the 2025 budget on March 11, 2025.
The government’s decision to eliminate these taxes, in line with its campaign promises, has been widely welcomed by Ghanaians.
SSD/MA
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