In a bold move, Finance Minister designate Dr. Cassiel Ato Forson has vowed to eliminate two of Ghana’s most contentious taxes: the betting tax and the electronic transactions tax (E-Tax).
During his confirmation hearing, Dr. Forson emphasized the need to remove these taxes, citing their detrimental impact on Ghana’s economic growth.
The betting tax, introduced by the previous administration, has faced widespread criticism for disproportionately affecting the youth.
Dr. Forson’s pledge to scrap this tax reinforces President John Mahama’s campaign promise to eliminate it.
According to Dr. Forson, removing the betting tax will not impede the nation’s economic progress, and instead, improving tax compliance is key to boosting government revenue.
Dr. Forson also expressed his commitment to tackling wasteful government expenditures, emphasizing the need for fiscal discipline and efficient management of Ghana’s resources.
He stated that “governance is not about borrowing and borrowing” and that it’s time to “cut the waste”
The proposed elimination of the E-Tax is also expected to have a positive impact on Ghana’s economy.
The tax has been a subject of controversy, with many arguing that it disproportionately affects low-income individuals and small businesses.
Dr. Forson’s bold promises have been met with optimism, with many hoping that his leadership will bring about a new era of fiscal responsibility and economic growth.
As he prepares to take the reins as Finance Minister, Ghanaians will be watching closely to see if he can deliver on his promises.
