Ofoase Ayirebi Member of Parliament (MP) Kojo Oppong Nkrumah has hinted at plans by the Mahama-led administration to introduce new taxes in the 2025 budget.
According to him, the government intends to tax the mining sector, telecommunication industry, and reintroduce value-added tax (VAT) on financial services.
The former Minister for Works and Housing disclosed this in an interview on Adom FM’s Dwaso Nsem, stating that such a move would be a betrayal of Ghanaians’ trust.
“If the mining sector is taxed, Ghanaians will suffer because companies will not compromise on their profits. For telecom, they will pass it on to consumers, and the financial services tax will impede financial intermediation—that was why Seth Terkper scrapped it,” he argued.
“They promised to reduce taxes, not introduce new ones. We will highlight the good and bad after the presentation, but they should know their actions will have consequences,” he cautioned.
Ahead of Finance Minister Dr. Cassiel Ato Forson’s budget presentation on March 11, 2025, the business community and some individuals have warned against new taxes.
The Ghana National Chamber of Commerce and Industry (GNCCI) has vowed to resist any attempt to introduce additional levies, urging the government to explore alternative revenue-generating measures.
Meanwhile, Dr. Ato Forson, during his vetting, stated that the government aims to increase tax revenue’s contribution to GDP from 13.8% to 18% in the medium term.
He emphasized that Ghana has significant untapped potential in tax revenue mobilization, which can be harnessed without imposing additional taxes.
ALSO READ: