President John Dramani Mahama has officially signed into law a series of amended bills that will abolish several controversial taxes. Apexnewsgh reports
This legislative action aligns with the National Democratic Congress (NDC) manifesto pledge to promote economic growth and improve the quality of life for citizens.
Among the taxes being repealed is the Electronic Transfer Levy (E-Levy), a 1% charge imposed on electronic transactions such as mobile money transfers and online payments. Introduced in 2022, the E-Levy faced widespread criticism from the public and stakeholders alike.
In addition, the Betting Tax, which charged 10% on gross winnings in the gaming industry, has also been abolished following significant opposition from those affected. The Emissions Tax, which was criticized for imposing additional costs on both businesses and individuals, has similarly been removed.
The repeal of these taxes reflects the government’s commitment to fostering a more favorable economic environment. By eliminating these levies, the NDC administration aims to boost disposable income, thereby increasing the financial resources available to both individuals and businesses. This, in turn, is expected to enhance economic participation, encouraging entrepreneurship and investment, particularly among the youth and those from low-income backgrounds.
Stakeholders have welcomed President Mahama’s approval of the amended bills, expressing optimism that the abolition of these taxes will have a positive impact on the livelihoods of many Ghanaians. The government has reaffirmed its dedication to advancing policies that alleviate economic hardships and promote the welfare of citizens, a commitment underscored in the NDC’s 2024 Manifesto.
As the nation looks toward a brighter economic future, these recent legislative changes signify a crucial step in the right direction.
Source: Apexnewsgh.com
