President John Mahama has scraped the controversial taxes, such as the betting tax and e-levy, in a bold move to ease the financial pressure on Ghanaians. This marks a further approach for Ghana's economy, which carries out a key campaign promise.
On Wednesday, April 2, 2025, the President signed several bills to reduce taxes and reorganize budgetary policies whose modifications align with the National Democratic Congress's (NDC) vow to ease financial burdens on individuals and companies while promoting economic expansion.
The Electronic Transfer Levy (E-Levy) Repeal is among the recently passed lawmaking that has eliminated taxes on digital transactions and mobile money. The gambling business and young Ghanaians have benefited from abolishing the betting tax.
However, these are Key Taxes Signed into Law
- Electronic Transfer Levy (E-Levy) Repeal – Removes taxes on mobile money and digital transactions.
- Betting Tax Scrapped – A win for the gaming industry and young Ghanaians.
- Emissions Levy Dropped – Reduces costs for drivers and transport operators.
- VAT on Insurance Removed – Makes Insurance more affordable.
- Revised Petroleum Revenue Management Bill – Ensures better use of oil funds for national development.
Other reforms concentrate on improving transparency in government spending and encouraging investment.
President Mahama said this is a significant step toward economic relief at the signing ceremony. He added that "removing these taxes, will give businesses room to grow, easing daily expenses for families, and setting the stage for a stronger economy."
What Ghanaians Should Know About This
- The removal of the e-levy will help small businesses and mobile money users by lowering the cost of digital payments.
- The betting tax, which many felt was unjust, is no longer imposed on young people or bet operators.
- By removing the emissions charge, drivers and transportation providers save money.
- Changes to the VAT and income tax laws will benefit taxpayers by increasing their disposable income.
Some economists warn that the government must find measures to repair lost revenue without passing new taxes, even as they hail the reforms to increase corporate trust.
After these adjustments, the government will concentrate on industry expansion, job development, and economic stabilization. Ghanaians will constantly monitor the effects of these reforms on day-to-day living and long-term growth.