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President John Mahama has reportedly scrapped the Electronic Levy (E-Levy) and Betting Tax, fulfilling a major campaign promise as part of his first 120-day plan after taking office on January 7.
The official confirmation is expected from Finance Minister Cassiel Ato Forson when he presents the 2025 Budget to Parliament on March 11, 2025.
However, the final decision rests with Parliament, led by Speaker Alban Bagbin, which will deliberate and approve the proposed tax removals.
The E-Levy, initially set at 1.75% and later reduced to 1.5%, was introduced on February 1, 2022, as part of the Akufo-Addo administration’s efforts to boost tax revenue.
It was aimed at generating funds for infrastructure projects and job creation in the informal sector. The levy was passed under Act 1075, imposing charges on electronic transactions.
Similarly, the Betting Tax was implemented in August 2023, imposing a 10% levy on lottery and betting winnings.
This tax sparked widespread opposition, particularly among the youth and betting communities.
Mahama’s efforts to scrap the e-levy and betting tax have been the primary goal for NDC party, aiming to ease business costs and reduce public hardship.
Finance Minister Cassiel Ato Forson, who has been a vocal opponent of both levies also claimed that they have failed to achieve their intended purposes.
During his parliamentary vetting on January 13, 2025, he reaffirmed his commitment to abolishing these taxes in his first budget.
“I insist that the betting tax must be abolished, and as Finance Minister, I will abolish it in my first budget because it has failed,” Dr. Forson states.
NKONKONSA.com
