Ghanaian social media influencer and a sympathizer of the National Democratic Congress (NDC), Kaly Jay has revealed the Mahama government has failed to abolish the COVID-19 tax.
He indicated that that although the government fulfilled its promise of abolishing the betting tax, e-levy and emission tax, the COVID-19 levy is still in force.
He wrote on his X page, “The Covid-19 levy will be removed later according to my sources . For now Betting tax, E-levy and emission tax are gone.”
Ghana’s Finance Minister, Dr Cassiel Ato Forson, has reiterated, the Mahama government will scrap the E-levy, Emission levy, betting tax and other taxes.
According to Ato Forson, the government attempt to review the Value Added Tax system, and the government will also eventually abolish the COVID-19 levy.
Speaking during the 2025 budget reading Ato Forson stated, “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”.
“Mr. Speaker, the removal of these taxes will ease the burden on households and improve their disposable incomes. In addition, it will support business growth and improve tax compliance”, he added.
Meanwhile, Dr Cassiel Ato Forson has disclosed that the Central Bank is desperately in need of a GHS53 billion bailout to address its negative equity challenge.
He made this known during a presentation of the 2025 Budget Statement and Economic Policy in Parliament on Tuesday, March 11. Dr. Ato Forson underscored the central bank’s urgent need for a substantial bailout to restore stability.
“The BoG is also seeking an amount of GHS53 billion as a bailout to be able to address the negative equity challenge, they face,” Dr. Forson stated.
He further revealed that the cocoa sector is in dire need of revival.
Dr. Ato Forson revealed to Parliament on Tuesday, March 11 that “COCOBOD’s outstanding debt stands at Ghc32 billion.”
He stressed “The cocoa sector is sadly on its knees, with unsustainable debts. Cocoa production had dropped nearly by 50 per cent over the past three years.”
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