Business News of Wednesday, 2 April 2025
Source: www.ghanawebbers.com
President John Dramani Mahama has signed important bills to reform Ghana’s economy. This announcement was made on Wednesday, April 2, 2025. The reforms aim to streamline taxation and ease financial burdens on Ghanaians. They also seek to boost economic growth.
**Key Bills Signed by President Mahama**
1. **Electronic Transfer Levy (E-Levy) Repeal Bill 2025**
This bill cancels the controversial E-Levy on mobile money transactions.
2. **Emissions Levy Repeal Bill**
This bill removes the emissions tax that faced public backlash.
3. **Value Added Tax (VAT) Amendment Bill**
Adjustments will improve compliance and reduce burdens on consumers.
4. **Income Tax Amendment Bill 2025**
This amendment modifies tax rates for better revenue collection.
5. **Petroleum Revenue Management Amendment Bill 2025**
It revises how revenues from petroleum are managed for effective allocation.
6. **Public Financial Management Amendment Bill**
This enhances transparency and accountability in government spending.
7. **Earmarked Funds Capping and Realignment Bill**
Aims to improve budget efficiency by capping earmarked funds.
8. **Value Added Tax (VAT) Amendment Bill 2025**
Another amendment focuses on specific areas of VAT administration.
9. **Energy Sector Levy Act**
Restructures levies in the energy sector for sustainability and investment.
10. **Gold Board Bill 2025**
Establishes regulations for gold mining, trade, and export to boost the economy.