The flagbearer of the New Patriotic Party (NPP), Mahamudu Bawumia, has promised to abolish the controversial E-Levy and betting tax if elected President in the 2024 general elections.
Speaking at the NPP’s manifesto launch in Takoradi on Aug. 18, he outlined his administration’s vision for comprehensive tax reforms aimed at reducing the financial burden on Ghanaians.
According to Bawumia, this includes a tax amnesty for previous years’ unpaid taxes, as well as waivers on interest and penalties for unfiled taxes.
He also detailed strategies to position Ghana as a global digital leader, focusing on policies, competitive incentives, and strategic investments to transform the nation into a world-class digital economy.
“We will reform the Value Added Tax system by consolidating all levies into a single line item, which will be treated as part of input and output VAT, eliminating the cascading effect of the current regime,” Bawumia said.
“We’ll also reduce Withholding Tax for small-scale gold exports to 1% to curb smuggling, and abolish the Betting Tax.”
Business-friendly tax reforms
Bawumia also pledged to establish a more business-friendly environment if elected in the upcoming Dec. 7 elections.
He highlighted his unwavering commitment to boosting and expanding the private sector.
He outlined a comprehensive plan for a revamped tax regime under his administration, specifically tailored to accelerate business growth and spur economic development across the country.