The government as promised during their 2024 campaign to abolish certain taxes has kept their word. The Finance Minister, Dr. Ato Forson in presenting the budget for 2025 has stated that the 10% tax on lotteries and betting which was implemented by the previous administration has been abolished.
Among the abolished taxes is the 1% fees on electronic transactions known as E -Levy.
The emission levy on industries and vehicles has also been abolished by the government.
The VAT on motor vehicle insurance policies has also been abolished.
The 1.5% withholding tax on unprocessed gold winnings by small-scale miners has been abolished as well.
The minister of finance, Dr. Ato Forson has also outlined some measures that the government is putting in place to ensure the generation of enough revenue for the government to be able to finance stalled projects in the country.
Source: 87solutions.blogspot.com
Credit: 87solutions.blogspot.com
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