The government has announced plans to abolish several taxes in the 2025 budget.
Finance Minister Dr Cassiel Ato Forson detailed the tax cuts during his budget presentation in Parliament, emphasising the positive impact these measures will have on disposable incomes and business growth. "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 of unprocessed gold by small-scale miners," Dr.
Forson announced.
