Finance Minister Dr. Cassiel Ato Forson has announced that the bills to repeal several taxes, including the Electronic Transaction Levy (E-Levy), and the 10% withholding tax on lottery winnings (betting tax), will be laid before Parliament on Wednesday, March 12.
“[Wednesday] morning, I will be going to Parliament to submit the bills, and I expect Parliament to take them through a certificate of urgency,” Dr. Forson said in an interview on Joy News on Tuesday, March 11.
The move, aimed at alleviating the financial burden on households and businesses, was highlighted in the 2025 Budget Statement presented to Parliament. The Finance Minister underscored the positive impact these tax cuts would have on disposable incomes and business growth.
“Mr. Speaker, we will abolish the 10% withholding tax on winnings from lottery, otherwise known as the ‘Betting Tax’; we will abolish the Electronic Transfer Levy (E-Levy) of 1%; we will abolish the Emission Levy on industries and vehicles; we will abolish the VAT on motor vehicle insurance policy; and we will abolish the 1.5% withholding tax on winnings of unprocessed gold by small-scale miners,” Dr. Forson announced.
He expressed confidence that the repeal process would be swift due to the simplicity of the proposed changes.
“Repealing the taxes will be one clause each. Repealing the betting tax is very easy, the e-levy and all of those things we are repealing are quite easy,” he assured.
Dr. Forson further emphasized the urgency of the process, noting that the Constitution allows finance bills to be laid under a certificate of urgency.
“It’s a revenue bill, and under the Constitution, you have any way to lay finance bills under a certificate of urgency…I assure you that I will do my bid and submit it to Parliament, and looking at the urgency involved, I’m hopeful that Parliament will take it through the various stages and approve it for us,” he added.
