‘As part of our 120-day agenda, we will abolish the E-levy’ – Ato Forson

Ghana’s Finance Minister-designate, Dr. Cassiel Ato Forson, has unveiled plans to abolish the controversial E-Levy and Betting Tax within 120 days of taking office.

This move aims to ease the financial burden on Ghanaians and promote economic stability.

As part of our 120-day agenda, we will abolish the E-Levy,” he announced.

Key Highlights of Dr. Forson’s Plan

– Abolition of E-Levy and Betting Tax: Dr. Forson emphasized that scrapping these taxes will not harm the economy, citing the need to increase compliance with existing tax laws instead of introducing new taxes.

Scrapping the Betting Tax will not affect the forward march of the economy,” he said. He added that increasing taxes is not the only way to boost revenue. “You don’t have to increase taxes to increase revenue. What is important is to increase compliance.

– Revenue Mobilization: The Finance Minister-designate aims to boost revenue by improving compliance with existing tax laws, rather than increasing taxes.
– Expenditure Cuts: Dr. Forson stressed the importance of prudent management of expenditures, highlighting the need to cut wasteful spending to stabilize the economy.

”We need to cut the waste! The time is NOW! We must work in a way that stabilises inflation, the exchange rate, and creates jobs.”

– Medium-term Vision: Dr. Forson shared his goal to increase tax revenue as a percentage of GDP from 13.8% to 16-18%.

Focus on Economic Stability

Dr. Forson’s plan prioritizes economic stability, job creation, and inflation control. By cutting wasteful spending and improving tax compliance, the government aims to create a more stable economic environment.

 

Baina Multimedia/Khadijahtu Kubura Kailani

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