Finance Minister, Dr. Cassiel Ato Forso has revealed that the government plans to eliminate the Electronic Transaction Levy (E-levy) and the 10% tax on lottery winnings, commonly referred to as the betting tax.
This announcement was made during the presentation of the government’s inaugural budget statement to Parliament on Tuesday, March 11, 2025
In addition to these changes, the Minister disclosed the cancellation of several other levies, including the emissions tax.
As part of a broader review of the Value Added Tax system, the government also intends to eventually abolish the COVID-19 levy.
However, the Minister did not provide specific timelines for when these tax eliminations will take effect.
“We have scheduled the following taxes for removal in accordance with our manifesto commitments. Mr. Speaker, we will eliminate the 10% tax on lottery winnings”
The government will also abolish the 10% withholding tax on betting, the emissions levy, and the VAT on motor vehicle insurance policies.
Furthermore, Dr. Forson announced plans to remove the 1.5% withholding tax on processed gold for small-scale miners, a decision expected to benefit the country’s mining sector, especially its smaller operators.
“The removal of these taxes will alleviate the financial strain on households and enhance their disposable income. It will foster business growth and enhance tax compliance,” the Finance Minister asserted.
