Bawumia promises to eliminate the E-Levy by March 2025; the first budget includes new tax reforms.
Bawumia promises to eliminate the E-Levy by March 2025; the first budget includes new tax reforms.
Dr. Mahamudu Bawumia, the vice president and flagbearer of the New Patriotic Party (NPP), has declared that, should he be elected president, the contentious mobile transaction tax, or “e-levy,” will be eliminated in his first budget proposal to Parliament by March 2025.
Dr. Bawumia also announced plans to enact significant tax reforms, such as a flat tax rate and tax amnesty, within the first three months of his administration during a Sunday media interaction in Accra.
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Dr. Bawumia stressed the necessity of fostering business growth in his explanation of the urgency of eliminating the e-levy and enacting tax changes, which he sees as essential to the creation of jobs and economic transformation. He emphasized that digitalization will be a key component of his plan to propel Ghana’s economy and expand youth employment prospects.
“The e-levy will have to go by March as we present our first budget, given our focus on digitalization as we take off,” said Dr. Bawumia.
“The new tax reforms—the flat rate regime and the tax amnesty—will also be introduced immediately, as we are committed to supporting businesses to grow.”
Dr. Bawumia emphasized the significance of fostering a business-friendly climate as a way to provide employment opportunities for the youth of the nation. He promised that making audacious decisions early on that would have a major influence on job creation would be one of his administration’s top goals.
