Ghana’s government has announced the repeal of multiple taxes introduced during the COVID-19 pandemic, aimed at easing the financial burden on citizens. Five ‘nuisance levies’, including taxes on mobile transfers and vehicle insurance, will be scrapped, as stated by Finance Minister Cassiel Ato Forson during the 2025 budget presentation.
The government of Ghana has declared the removal of multiple taxes that were introduced during the COVID-19 pandemic to secure financing from the International Monetary Fund (IMF). This measure aims to alleviate the economic burden on citizens. Finance Minister Cassiel Ato Forson identified five taxes, referred to as “nuisance levies,” including a one-percent tax on mobile money transfers and a value-added tax on motor vehicle insurance, which will be abolished as part of the new policy outlined in the 2025 budget presentation.
In summary, Ghana’s government has decided to abolish several COVID-era taxes deemed burdensome to citizens. The cancellation of these levies aims to ease economic hardship while reaffirming a commitment to improving the financial landscape for ordinary Ghanaians. The changes reflect a significant shift in fiscal policy addressing citizens’ needs.
Original Source: www.djournal.com
