Finance Minister Dr. Cassiel Ato Forson, has jubilated over President John Dramani Mahama’s decision to assent to the abolishment eight (8) key taxes, including E- Levy and betting tax.
The taxes abolished by the president on Wednesday April 2, 2025 include;
1. Electronic Transfer Levy (Repeal) Bill, 2025
2. Income Tax(Amendment) Bill, 2025
3. Emissions Levy (Repeal) Bill, 2025
4. Earmarked Funds Capping and Realignment (Amendment) Bill, 2025
5. Petroleum Revenue Management (Amendment) Bill, 2025
6. Public Financial Management Bill, 2025
7. Value Added Tax (Amendment) Bill, 2025
8.Gold Gold Board Bill, 2025.
Reacting to the presidents approval of these bills into law, the Finance Minister took to his official social media to express his excitement.
He posted on his official Facebook and X spaces, “It is Finished”.
President John Dramani Mahama has officially signed into law a series of bills abolishing several controversial taxes, including the Electronic Transfer Levy (E-Levy), Betting Tax, and Emissions Tax.
This decision aligns with the National Democratic Congress’s (NDC) pledge to prioritize economic relief for citizens.
On March 13, 2025, Finance Minister Dr. Cassiel Ato Forson presented eight bills to Parliament, targeting the repeal and amendment of various taxes and levies.
Among these were the Electronic Transfer Levy (Repeal) Bill, 2025, and the Emissions Levy (Repeal) Bill, 2025, which had faced widespread criticism for their impact on disposable incomes and industry stakeholders.
The E-Levy, introduced in 2022, imposed a 1% charge on electronic transactions, sparking public resistance due to its perceived financial strain.
Similarly, the Betting Tax, which levied a 10% charge on gambling winnings, drew backlash from the gaming industry.
President Mahama’s swift action fulfills his campaign promise to abolish these taxes within his first 120 days in office, marking a significant step in his administration’s commitment to economic reform.
The tax, introduced under the Nana Akufo-Addo government in 2023, had seen the Ghana Revenue Authority (GRA) withhold 10% of all gambling winnings starting in August 2023.
Finance Minister, Dr. Cassiel Ato Forson explained the government’s decision to remove the tax, stating:
“Mr. Speaker we will abolish the 10% withholding tax on betting.
He highlighted that removing this tax, along with others, would improve the disposable income of Ghanaians.
Dr. Ato Forson also promised to abolish the betting tax in his first budget if confirmed.
Speaking before the Appointments Committee of Parliament on Monday, January 13, Dr. Forson argued that the current betting tax has failed to meet its objectives and should be scrapped.
This cancellation is in line with the NDC’s manifesto and Forson’s pledge.
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