Ghanaians can breathe a sigh of relief as the government has announced that no new taxes will be introduced in the 2025 Mid-Year Budget Review.
Delivering the statement in Parliament on Thursday, July 24, Finance Minister Dr Cassiel Ato Forson said the decision reflects the government’s ongoing commitment to easing economic pressure on citizens and businesses while supporting post-COVID-19 recovery.
“Mr Speaker, I want to reiterate that this Mid-Year Review does not introduce any new taxes,” he declared.
Dr Forson emphasised that the government’s fiscal strategy prioritises revenue enhancement through efficiency, compliance, and reform; rather than imposing additional tax burdens.
He noted that Ghana’s path to economic recovery hinges on responsible governance, macroeconomic stability, and growth-friendly policies that do not overburden the populace.
The no-new-tax stance forms part of a broader “relief agenda” aimed at consolidating gains under the IMF-supported Post-COVID-19 Programme for Economic Growth (PC-PEG), supporting productivity, and safeguarding household incomes.
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The Finance Minister also revealed that the budget review includes plans to streamline tax policies, including repealing the COVID-19 Health Recovery Levy and the VAT Flat Rate Scheme. These reforms will be addressed in a new VAT bill expected to be submitted to Parliament soon.
He added that the government remains committed to raising domestic revenue in a fair and sustainable manner, one that supports growth and reflects the current economic climate.
Source: Starrfm.com.gh
