In a bold move to ease the financial burden on Ghanaians, the Finance Minister has announced the cancellation of the Electronic Transfer Levy (E-Levy) and the 10% withholding tax on betting.
This comes as a major relief, especially for mobile money users and the youth engaged in online gaming. The controversial E-Levy, introduced in 2022, faced public backlash and failed to generate the projected revenue.
Similarly, the betting tax, which imposed a 10% deduction on winnings, was widely criticized as unfair to young bettors. The finance minister stated that, in addition to these, other taxes—including the emissions levy, 1.5% withholding tax on unprocessed gold from small-scale miners, and the motor vehicle insurance tax—will also be scrapped.
He assured that the revenue gap will be managed through efficient government spending. The removal of these taxes is expected to increase disposable income, boost business growth, and improve overall tax compliance.
Ghana|Atinkaonline.com|Ebenezer Madugu
