Finance Minister, Cassiel Ato Forson announced in the 2025 budget statement that these nuisance taxes, which are holdovers from the previous NPP government, are set to be abolished.
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Following the presentation of the budget, ‘investors’ have been patiently waiting for the taxes to be abolished.
The Income Tax (Amendment) Bill, 2025 was laid before Parliament on Wednesday, March 26, and was passed by the House.
Finance Minister, Ato Forson took to social media to announce the news, revealing the bill will become law once President Mahama assents to it, which should happen shortly.
“Ladies and Gentlemen, Investors, Parliament has just passed the Income Tax (Amendment) Bill, 2025, which abolishes the ‘Betting Tax’ and other levies,” the Finance Minister wrote.
Ladies and Gentlemen, Investors,
Parliament has just passed the Income Tax (Amendment) Bill, 2025, which abolishes the ‘Betting Tax’ and other levies.
I have no doubt that H.E. President John Dramani Mahama will be more than willing to sign it into law without delay.
Promise… pic.twitter.com/paeJVvOOq4
— Cassiel Ato Forson(PhD) (@Cassielforson) March 26, 2025
His announcement led to wild jubilations in his comment section as netizens praised the government for fulfilling their promises.
“Great. Kindly look at VAT as well. Hoping that in the coming months it may be reduced to mitigate the burden on both individuals and businesses,” one user wrote,
Another user said: “At this point 3y3 zu😹”
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