Ghana’s government is eliminating several Covid-era taxes considered burdensome by citizens, including a one-percent levy on mobile money and a tax on vehicle insurance. This move, announced by Finance Minister Cassiel Ato Forson, is part of the 2025 budget and aims to mitigate economic hardship.

Ghana’s newly elected government has decided to repeal several taxes that were implemented during the Covid-19 pandemic as part of an agreement for International Monetary Fund (IMF) financial assistance. This decision, announced on Tuesday, aims to alleviate the economic burdens faced by the citizens. Finance Minister Cassiel Ato Forson disclosed that five taxes labeled as “nuisance levies” will be eliminated, which include a one-percent charge on mobile money transactions and a value-added tax on vehicle insurance premiums as part of the 2025 budget presentation.

The Ghanaian government’s recent decision to abolish specific taxes linked to IMF financing underscores its commitment to relieving economic pressures on the populace. These changes reflect a shift towards prioritizing the welfare of citizens amidst ongoing financial challenges.

Original Source: www.djournal.com