President John Dramani Mahama has officially signed into law a set of amended bills, removing several controversial taxes, including the E-levy, betting tax, and emissions tax. The signing, which took place in his office, signals a major shift in the government’s approach to easing the financial burden on the public while promoting economic growth.
This decision aligns with key promises in the National Democratic Congress (NDC) manifesto, which prioritized reducing the cost of living and creating a more business-friendly environment. It’s a win for businesses, individuals, and countless Ghanaians who had grown frustrated with the impact these taxes were having on their daily lives.
The E-levy, for instance, quickly became a symbol of frustration for many. Introduced in 2022 by the previous New Patriotic Party (NPP) administration, the levy imposed a 1% charge on all electronic transactions, including mobile money, bank transfers, and online payments.
It didn’t take long for the public to rise up in protest, especially since it hit low-income earners and the unbanked population hardest. After years of resistance, Parliament passed a bill to repeal the e-Levy, which President Mahama has now signed into law. It’s a huge win for anyone who uses mobile money or makes online payments regularly.
The 10% betting tax, which had severely impacted the gambling industry, is also gone. This tax was causing serious losses for betting operators and discouraging participation in the sector. It’s another win for both businesses and bettors alike. And if you’re a vehicle owner or run a business that relies on transportation, you’ll be pleased to know the emissions tax introduced in 2024 has also been repealed, lifting a significant financial burden from your shoulders.
The removal of these taxes is part of President Mahama’s broader strategy to tackle the rising cost of living, ease the financial strain on Ghanaians, and restore confidence in the economy. With these changes, businesses and individuals are expected to experience significant relief, paving the way for more economic activity and a more vibrant business environment.
Removal of CJ would be a betrayal of women – PNP to Mahama
Source:The High Street Journal
