“We will abolish the e-levy and some taxes” -Mahama pledges to reduce ‘burdensome’ taxes if elected in 2024
John Dramani Mahama, the flagbearer of the National Democratic Congress (NDC), has reaffirmed his commitment to abolish the E-levy if elected president in the 2024 general elections.
Speaking at the 8th Ghana CEO Summit in Accra on Monday, May 27, Mr Mahama also promised to eliminate certain taxes that have become onerous for businesses and households.
The former president criticized the current tax regime, particularly the E-levy, which was introduced in 2022 to boost domestic revenue. Initially set at 1.75 percent, the levy faced widespread opposition and was reduced to 1.5 percent, and subsequently to 1 percent.
John Mahama assured that his administration would refrain from subjecting businesses to continuous tax audits and harassment by the Economic and Organised Crime Office (EOCO).
He emphasized that reducing the tax burden and curbing excessive government spending would create a more favourable business environment and 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”, Mr Mahama stated.
He also highlighted his plans to stabilize the economy and restore the currency through an urgent economic recovery and fiscal consolidation plan, which he intends to launch within 100 days of taking office.
John Mahama emphasized that his administration’s top priority would be stabilizing the economy and ensuring a stable currency, facilitated by a national economic dialogue.
