Ghana’s new government has decided to abolish several COVID-era taxes linked to IMF financing, including a one-percent levy on mobile money transfers and a VAT on motor vehicle insurance. Finance Minister Cassiel Ato Forson announced these changes during the 2025 budget presentation, highlighting economic hardships faced by citizens.
On Tuesday, Ghana’s newly established government declared the removal of several taxes that were implemented during the COVID-19 pandemic. These taxes, introduced as part of efforts to obtain financing from the International Monetary Fund (IMF), have been criticized for the economic strain they imposed on the populace.
Among the taxes identified as “nuisance levies” are a one-percent levy on mobile money transfers and a value-added tax on motor vehicle insurance. Finance Minister Cassiel Ato Forson announced these cancellations during the presentation of the government’s 2025 budget, emphasizing the need to alleviate the burden on ordinary citizens.
The Ghanaian government has taken decisive action to alleviate the financial pressure on citizens by abolishing certain taxes previously tied to IMF funding. This move reflects a commitment to address economic hardships that have affected many during the pandemic, signaling a shift towards prioritizing the welfare of the populace.
Original Source: www.djournal.com
