Flagbearer of the New Patriotic Party (NPP) Dr. Mahamudu Bawumia, has made a bold promise to abolish the controversial Electronic transaction Levy (E- Levy) and betting tax if elected President in the 2024 general elections.
Addressing supporters at the NPP’s manifesto launch in Takoradi on Sunday, Dr. Bawumia unveiled a comprehensive tax reform plan aimed at reducing the financial burden on Ghanaians.
The plan includes a one-time tax amnesty for previous years’ unpaid taxes, waivers on interest and penalties for unfiled taxes, and a consolidation of all levies into a single line item under the Value Added Tax system.
“We will fast-track Ghana’s transformation into Africa’s digital hub through strategic policies, incentives, and investments. This includes investing in local talent and tech start-ups while abolishing the E-Levy. We’ll also reduce Withholding Tax for small-scale gold exports to 1% to curb smuggling, and abolish the Betting Tax. We’ll implement broad tax reforms, offering a one-time tax amnesty to all Ghanaians and corporate entities, wiping the slate clean from previous tax obligations. This will give everyone a fresh start in their tax journey. We will reform the Value Added Tax system by consolidating all levies into a single line item, which will be treated as part of input and output VAT, eliminating the cascading effect of the current regime” he noted.
Dr. Bawumia also pledged to reduce Withholding Tax for small-scale gold exports to 1% and abolish the Betting Tax.
In addition to the tax reforms, Dr. Bawumia outlined his vision for transforming Ghana into a world-class digital economy through strategic policies, competitive incentives and investments.
