The flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has reaffirmed his commitment to abolish the E-levy if elected President in the 2024 general elections.
In addition, he pledged to eliminate certain taxes that have become burdensome for businesses and households.
Mahama assured that his administration would not subject businesses to endless tax audits or harassment by the Economic and Organised Crime Office (EOCO).
The E-levy, introduced in 2022 to enhance domestic revenue mobilization, initially set at 1.75 percent, faced significant criticism and was subsequently reduced to 1.5 percent and then further to 1 percent.
Speaking at the 8th Ghana CEO Summit in Accra on Monday, May 27, the former President also promised to cut down on excessive government expenditures.
Mr. Mahama said reducing the tax burden and streamlining government spending would create a more favorable environment for businesses and help alleviate financial pressures on households.
“We will do this by pruning the huge government expenditures, preventing waste and corruption, and boosting revenues by expanding the tax net. We will simplify the VAT and streamline its collection. We will abolish the e-levy and some taxes that have become a burden on businesses and households. We will not burden you with endless tax audits and harass you with EOCO.”
He indicated his resolve to stabilise the economy and restore the currency.
Mahama disclosed his intentions of launching an urgent economic recovery and fiscal consolidation to be held within 100 days of his assumption of office.
“The number one priority will be stabilising the economy and restoring a stable currency by launching an urgent economic recovery and fiscal consolidation plan following a national economic dialogue to be held within one hundred days of assumption of office.”
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