President Mahama Signs Sweeping Tax Reforms into Law: See Full List

Apr 2, 2025 - 20:35

Accra, Ghana 02April, 2025 - President John Dramani Mahama has signed into law key bills aimed at overhauling Ghana's tax and financial management framework.

This move is a significant step by the Mahama-led government towards revitalizing Ghana's economy, fulfilling its promise to improve citizens' livelihoods and foster a more competitive business environment.

The newly assented laws include:

Key Bills Assented to by President Mahama

Electronic Transfer Levy (E-Levy) Repeal Bill 2025 – This bill officially revokes the controversial E-Levy, which imposed taxes on mobile money transactions and electronic transfers.
Emissions Levy Repeal Bill – The bill removes the emissions tax, which was introduced to curb pollution but faced backlash from businesses and the public.
Value Added Tax (VAT) Amendment Bill – Adjustments to the VAT regime aimed at improving compliance and easing the burden on consumers and businesses.
Income Tax Amendment Bill 2025 – This amendment seeks to modify tax rates and exemptions to enhance revenue collection and fairness in taxation.
Petroleum Revenue Management Amendment Bill 2025 – Revises the framework for managing revenues from the petroleum sector to ensure more effective allocation of funds.
Public Financial Management Amendment Bill – Enhances transparency and accountability in government spending and fiscal policies.
Earmarked Funds Capping and Realignment Bill – Aims to improve efficiency in budget allocations by capping and realigning earmarked funds.
Value Added Tax (VAT) Amendment Bill 2025 – A further amendment addressing specific areas of VAT administration.
Energy Sector Levy Act – Focuses on restructuring levies within the energy sector to enhance sustainability and investment.
Gold Board Bill 2025 – Establishes a regulatory framework for gold mining, trade, and export to boost the sector’s contribution to the economy.
Growth and Sustainability Levy Act – Introduces measures to ensure long-term economic stability and fiscal sustainability.

The signing of these bills into law marks a significant milestone in President Mahama's administration, demonstrating his government's commitment to creating a more business-friendly environment and alleviating the financial burden on citizens.

As the country awaits the implementation of these reforms, many Ghanaians are optimistic about the potential benefits, including increased economic growth, improved financial inclusion, and a more competitive business environment.

Source: Lead News Online