During the 2024 election campaign, His Excellency John Dramani Mahama promised Ghanaians that he will abolish taxes imposed on them by the NPP government, former President Nana Akuffo Addo if he is reinstated into power.
Fortunately for John Dramani Mahama, he won the 2024 general election with 6,328,397 votes cast representing 56.55% of the valid votes cast, outshining his primary rival, Dr. Mahamudu Bawumia. In a groundbreaking move, the 2025 budget presentation captured the promises made by President John Dramani with respect to useless taxes imposed on Ghanaians.
The finance minister, Dr. Cassiel Ato Forson on Tuesday, March 11, presented the 2025 Budget Statement and outlined that the following taxes will be abolished by President John Dramani Mahama:
1. E-Levy: Tax on electronic transactions
2. Betting Tax: Tax imposed on betting activities
3. Withholding Tax: Tax charged on unprocessed gold.
4. Emissions Tax: Tax charged on carbon emissions
5. Motor Insurance Tax: Value Added Tax on motor vehicle insurance
The much-debated tax on electronic transactions is eliminated, rendering relief for those who rely on digital payments such as MoMo or mobile money transactions.
Also, the tax imposed on betting activities will no longer hold, a transition that will greatly benefit both bettors and operators in the betting industry.
According to the finance minister, Dr. Cassiel Ato Forson, these taxes elimination reflect a broader strategy by President John Dramani Mahama to stimulate economic growth and improve the financial well-being of Ghanaians.
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