Oppong Nkrumah hints at new taxes in 2025 budget

MP Ofoase Ayirebi Kojo Oppong Nkrumah has hinted that the Mahama-led government plans to introduce taxes in the 2025 budget, targeting the mining sector, telecommunications, and reintroducing VAT on financial services.

The former Minister for Works and Housing, speaking on Adom FM’s Dwaso Nsem, warned that such measures would betray Ghanaians’ trust as companies might pass on costs, burdening consumers and impeding financial intermediation.

With the budget presentation scheduled for March 11, 2025, the business community and the Ghana National Chamber of Commerce and Industry (GNCCI) have pledged to resist levies, urging the government to explore alternative revenue-generating measures.

Meanwhile, Finance Minister Dr. Cassiel Ato Forson emphasized that Ghana’s tax potential could boost the tax revenue’s share of GDP from 13.8% to 18% without imposing taxes.