How Finance Minister plans to address gap from abolishing E-Levy, Betting tax, others

Finance Minister Dr. Cassiel Ato Forson has outlined measures to address the fiscal gap resulting from the abolition of taxes such as the E-Levy, Betting Tax, and COVID-19 Levy.

Presenting the 2025 Budget on March 11, he assured that enhanced revenue mobilization and expenditure controls would cover the shortfall. The government will cut the tax refund ceiling from 6% to 4%, saving GH₵3.8 billion, and improve tax compliance through amendments to the Revenue Administration Act.

Plans include simplifying VAT, introducing a new Non-Tax Revenue Legislation, and streamlining property rate collection. Spending cuts will reduce ministries from 30 to 23, while non-essential programs like YouStart and One District One Factory will be eliminated.

Energy sector reforms and renegotiations of IPP contracts aim to cut costs, ensuring fiscal stability while reducing the tax burden.