Deputy Finance Minister Thomas Ampem Nyarko has confirmed that the Electronic Levy (E-Levy) will be removed by the end of March 2025, pending approval of the 2025 budget and appropriation. Speaking on Channel One TV’s OXFAM Tax Dialogue, Nyarko stated that the removal will take effect once Parliament finalizes the budget process. He emphasized that...
Author: Baina Media (Baina Media)
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Removal of E-levy, Betting Tax poses risk to govt’s ability to achieve its revenue target – Deloitte
Professional services firm, Deloitte has said that the theme running through this year’s budget statement is the need to strike a delicate balance between macroeconomic stability and economic growth. It indicated that a key component of the government’s approach to achieving the desired macroeconomic stability is revenue mobilisation. This notwithstanding, Deloitte said, the move by...
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13-member committee set up to review L.I. 2180 for commercial use of ‘Okada’
The Minister for Transport, Joseph Bukari Nikpe has established a 13-member committee to review Section 128 (1), (2), and (3) of the Road Traffic Regulations 2012 (L.I. 2180), which currently prohibits the commercial use of motorcycles and tricycles, commonly known as ‘Okada.’ The committee has been given a three week timeline to assess the regulation...
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‘Betting isn’t ideal, but it’s solace for many’ – Felix Kwakye Ofosu defends removal of winnings tax
Government spokesperson Felix Kwakye Ofosu has defended the decision to remove taxes on betting winnings, citing the economic hardship and lack of employment opportunities faced by many young people. Speaking on JoyNews’ Roundtable, Kwakye Ofosu acknowledged that betting isn’t the most desirable activity, but it has become a means of survival for many. “We find...
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Akufo-Addo’s Gov’t Squanders GH¢195 BILLION in Dubious Contracts!
Finance Minister Dr. Cassiel Ato Forson has revealed a staggering GH¢195 billion in contracts awarded by Ministries, Departments, and Agencies (MDAs) under the previous Akufo-Addo administration . Speaking in an interview with Channel One TV on Wednesday, March 12, just a day after presenting the 2025 Budget. Dr. Forson expressed alarm at the sheer scale...
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Dr. Amoah demands investigation into National Cathedral Funds
Former Deputy Finance Minister Dr. Stephen Amoah has expressed concerns about the financial implications of the National Cathedral project, despite having no objections to its construction. Speaking on Joy News AM, Dr. Amoah acknowledged sharing concerns with others about the source of funding and overall cost of the project. As a Christian, Dr. Amoah clarified...
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Transforming Ghana: 24-Hour Economy and 4 Other Major Initiatives in 2025 Budget
Ghana’s 2025 Budget has unveiled five key interventions aimed at transforming the country’s economy, boosting job creation, and stabilizing national finances. These initiatives were announced by Finance Minister Dr. Cassiel Ato Forson on Tuesday, March 11, 2025. 1. 24-Hour Economy The 24-Hour Economy policy seeks to stimulate sustained economic growth by enabling businesses and institutions...
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Amin Adam Claims GOLDBOD is a Vehicle for ‘Looting’ Public Funds
Former Finance Minister Dr. Mohammed Amin Adam has made some serious allegations against the current administration, accusing them of setting up the Ghana Gold Board (GOLDBOD) as a way to misappropriate public funds. Specifically, he’s taking issue with the allocation of GH₵270 million to GOLDBOD, which he believes is not only unjustified but also a...
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Government Won’t Use Public Funds to Rescue Bank of Ghana- Finance Minister
Finance Minister Dr. Cassiel Ato Forson has made it clear that the government won’t be using taxpayer funds to bail out the Bank of Ghana (BoG) to the tune of ¢53 billion. This decision comes after the central bank’s request for a bailout due to its negative equity challenge under the previous Ernest Addison-led administration....
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Deputy Finance Minister Defends 3% Hike in Growth and Sustainability Levy
Deputy Finance Minister Thomas Ampem Nyarko has defended the government’s proposal to increase the Growth and Sustainability Levy on mining companies from 1% to 3% of their gross production. This move aims to boost national revenue generation, particularly when global commodity prices are favorable. According to Ampem Nyarko, the modest increment is necessary to ensure...