Ghana MOF Presents 2025 Budget Statement

The Ghanaian Ministry of Finance March 11 submitted to Parliament the 2025 budget statement. The statement includes measures to: 1) abolish the 1 percent electronic transfer levy, the emission levy on industries and vehicles, VAT on motor vehicle insurance policies, and the 1.5 withholding tax on specified excavations and removals of unprocessed gold; 2) review and remove taxes deemed harmful to importers; 3) zero-rate the 2025 minimum wage; 4) introduce the digital Modified Taxation System for capturing taxpayer information, filing returns, and paying taxes; 5) extend the penalty and interest waivers under the Voluntary Disclosure Program (VDP) to persons with ...