Some residents of Keta in the Volta Region went into a spontaneous jubilation on Tuesday when Finance Minister Cassiel Atto Forson announced the abolition of several taxes in the 2025 Budget Statement.
The Government of Ghana, in the budget, abolished the betting tax, e-levy, emission levy, VAT on motor vehicles insurance policy, and others.
The decision has been met with widespread applause from the community, who viewed the move as a significant relief from the financial burdens imposed by these taxes.
It was also disclosed that government’s decision to abolish these taxes was part of a broader effort to alleviate the economic hardships faced by Ghanaians and the move was expected to have a positive impact on the local economy.
Mr. Bless Agbemabia, a businessman at Keta, in an interview with the Ghana News Agency (GNA), said that the abolition of the e-levy, in particular, has been welcomed by many residents, who had complained about the tax’s impact on their mobile money transactions.
“For the betting tax, on the other hand it has been seen as a major burden on the gaming industry, with many operators complaining about the high tax rates. The abolition of this tax will boost the industry and create more jobs and stimulate economic growth,” he said.
Mr. Agbemabia expressed gratitude to the government for listening to their concerns and taking concrete steps to address them.
” The decision to abolish these taxes is seen as a major victory for the community, who had been advocating for relief from these burdensome taxes,” Mr. Agbemabia said.
He said that the government’s decision was also seen as a major boost to the local business community, who would now have more resources to invest in their operations and the abolition of the taxes would stimulate economic growth, create jobs, and improve living standards in the community.
Mr. James Doe Kelli, a taxi driver at Keta, expressed satisfaction about the elimination of the emissions levy, covid 19 tax, and described government’s decision as the best to mitigate the plight of numerous Ghanaians about the economic hardship.
Dr. Cassiel Ato Forson, the Finance Minister, in the 2025 budget delivered to the Parliament on Tuesday, March 11, abolished the betting tax, e-levy, covid-19 levy, emission levy, among which was seen by the public as a major step towards fulfilling the government’s promise to alleviate the economic hardships faced by Ghanaians.
He said: “The abolition of these taxes is also expected to have a positive impact on the country’s revenue generation and by removing these burdensome taxes, the government is expected to stimulate economic growth, create jobs, and increase revenue generation in the long run.”
As the country continues on the path of economic recovery, this move is expected to have a positive impact on the lives of citizens and the economy as a whole while others also urged the government to continue listening to their concerns and take concrete decision to address them.
Parliament after the budget delivery is yet to debate, scrutinise and approve the budget to be operational.
GNA
