In a groundbreaking move, Finance Minister, Dr. Cassiel Ato Forson, has triumphantly announced the realization of President John Dramani Mahama’s pledge to abolish certain taxes within the first 120 days of his administration.
This monumental development encompasses the eradication of the Electronic Transfer Levy (E-Levy), Betting Tax, and Emissions Tax, subsequent to President Mahama’s assent to a series of legislative bills on April 2, 2025.
The Electronic Transfer Levy (E-Levy) Repeal Bill 2025 revokes the contentious E-Levy, which imposed taxes on mobile money transactions and electronic transfers. Similarly, the Emissions Levy Repeal Bill eliminates the emissions tax, introduced to mitigate pollution but faced opposition from businesses and the public.
Other notable bills assented to by President Mahama include the _Value Added Tax (VAT) Amendment Bill, Income Tax Amendment Bill 2025, Petroleum Revenue Management Amendment Bill 2025, Public Financial Management Amendment Bill, Earmarked Funds Capping and Realignment Bill, and the Growth and Sustainability Levy Act.
These legislative amendments aim to enhance compliance, alleviate the burden on consumers and businesses, modify tax rates and exemptions, and ensure fairness in taxation. Furthermore, these reforms seek to promote transparency and accountability in government spending and fiscal policies. The abolition of these taxes is expected to have a positive impact on Ghana’s economy, particularly in the areas of mobile money transactions, electronic transfers, and taxation.
Dr. Ato Forson succinctly put it on Twitter, “It is finished,” signaling the successful completion of President Mahama’s tax reform pledge.
