Finance Minister, Dr. Cassiel Ato Forson has announced that the government will abolish the Electronic Transaction Levy (E-Levy), the 10% tax on lottery winnings (betting tax), with other controversial taxes imposed on Ghanaians by the previous government.
Presenting the 2025 Budget on Tuesday, March 11, 2025, Dr. Ato Forson also announced the cancellation of other taxes such as the Emissions tax, and the review of the Value Added Tax system, which eventually, will cancel the COVID-19 tax.
According to him, these taxes are in alignment with the government’s manifesto promises, stressing that the government is committed to ensuring that the economy is resilient.
“Mr. Speaker, we will abolish the 10% withholding tax on winnings from lottery, otherwise known as the ‘betting tax.’ We will abolish the Electronic Transfer Levy (E-Levy) of 1% We will abolish the Emission Levy on industries and vehicles. We will abolish the VAT on motor vehicle insurance policy, and we will abolish the 1.5% withholding tax on winning on unprocessed gold by small-scale miners,” he announced.
Dr. Ato Forson explained that the removal of these taxes will ease the burden on Ghanaians and households, as well support the growth of businesses.
“Mr. Speaker, the removal of these taxes will ease the burden on households and improve their disposable incomes. In addition, it will support business growth and improve tax compliance,” he stated.
