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Govt to scrap E-levy, Emission levy, betting tax, other taxes. |
In
a significant move aimed at easing the financial burden on households and
businesses, the government has announced plans to present the necessary
instruments for the abolishment of several taxes in the 2025 budget.
Finance
Minister Dr Cassiel Ato Forson outlined the tax cuts during his budget
presentation in Parliament, emphasising the positive impact these measures will
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 winning of unprocessed gold by
small-scale miners,” Dr. Forson announced.
He
further explained that the removal of these taxes is intended to ease the
burden on households and improve their disposable incomes.
Source:
HR Forum News
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