The government announces no new taxes and sticks to its relief agenda in the 2025 mid-year budget.
The decision, according to Finance Minister Dr. Cassiel Ato Forson, who made the announcement in Parliament on Thursday, July 24, demonstrates the government’s continued commitment to relieving economic pressure on individuals and companies while promoting the post-COVID-19 recovery.
“Mr. Speaker, I would like to restate that no new taxes are being introduced in this Mid-Year Review,” he said.
Dr. Forson emphasized that rather than enacting more taxes, the government’s fiscal strategy places a higher priority on increasing revenue through efficiency, compliance, and reform.
He pointed out that macroeconomic stability, growth-friendly policies that don’t burden the people, and responsible governance are essential to Ghana’s economic recovery.
The Finance Minister also disclosed that plans to simplify tax laws, such as the removal of the VAT Flat Rate Scheme and the COVID-19 Health Recovery Levy, are part of the budget review. A new VAT bill that addresses these reforms is anticipated to be presented to Parliament shortly.
He went on to say that the government is still dedicated to increasing domestic revenue in a sustainable and equitable way that promotes growth and takes into account the state of the economy.
