By Celestine Avi
President John Mahama has officially assented to a series of repeal and amendment bills, fulfilling a key campaign promise to overhaul Ghana’s tax system and ease the financial burden on citizens. The move marks a major shift in the country’s economic direction under his administration.
Assent to Special Bills – Wednesday, 2nd April 2025
On Wednesday, 2nd April 2025, President Mahama signed into law several key legislations, including the repeal of the E-Levy, Betting Tax, and Emissions Tax, among others. This landmark decision aligns with the National Democratic Congress (NDC) Manifesto pledge to eliminate excessive taxes, promote economic relief, and stimulate growth.
Key Legislations Signed into Law
The newly enacted bills include:
Bills President John Dramani Mahama assented to on Wednesday April 2, 2025:
- Electronic Transfer Levy (Repeal) Bill, 2025
- Income Tax
(Amendment) Bill, 2025, - Emissions Levy (Repeal) Bill, 2025
- Earmarked Funds Capping and Realignment (Amendment) Bill, 2025,
- Petroleum Revenue Management (Amendment) Bill, 2025,
- Public Financial Management Bill, 2025,
- Value Added Tax (Amendment) Bill, 2025, and
- Gold Gold Board Bill, 2025.
These reforms are designed to ease financial burdens on businesses and individuals, encourage investment, and enhance fiscal discipline.
A Major Shift in Economic Policy
Speaking at the signing ceremony, President Mahama reaffirmed his commitment to a fairer, more business-friendly tax system as part of his 120-day social contract with Ghanaians.
President Mahama described the move as a bold step toward economic relief for all Ghanaians. By removing these burdensome taxes, is to empower businesses, boost consumer confidence, and paving the way for a stronger economy.
Implications of the Repeals and Amendments
The abolition of the E-Levy, a tax on mobile money and electronic transactions, is expected to revive digital financial services, benefiting small businesses and individuals who rely on mobile payments.
The repeal of the Betting Tax addresses concerns from the youth and gaming industry, while the removal of VAT on insurance services is set to make insurance more affordable and accessible.
Amendments to the Public Financial Management and Public Procurement Acts aim to enhance transparency, curb corruption, and improve efficiency in government spending. The Petroleum Revenue Amendment Bill ensures better management of oil revenues to support national development.
Public and Economic Reactions
Economic analysts have welcomed the reforms, predicting increased business confidence, consumer spending, and investment flow. However, some experts caution that the government must introduce strategic measures to offset potential revenue losses without imposing new financial burdens.
Ghanaians, particularly small business owners and mobile money operators, have expressed strong support for the repeal of the E-Levy, describing it as a necessary relief for digital transactions.
What’s Next?
With these tax reforms now in effect, the Mahama administration is expected to introduce further economic policies focused on job creation, industrial growth, and financial stability.
The government has assured Ghanaians that it remains committed to responsible revenue management while fostering an enabling environment for economic prosperity.
As Ghana moves forward with this new fiscal strategy, the coming months will be crucial in assessing the broader economic impact of these reforms on businesses, individuals, and national development.
