In response to a recent proposal by the New Patriotic Party’s flagbearer, Dr. Mahamudu Bawumia, the Minority in the Ghanaian Parliament has announced plans to introduce a private member’s bill aimed at repealing the controversial E-levy, emissions tax, and betting tax. These taxes have been a source of contention, prompting legislative action to address their impact on businesses and the economy.
Dr. Bawumia, who pledged to eliminate these taxes if elected President in the 2024 polls, has sparked a renewed focus on the financial burdens faced by businesses and citizens alike. The Minority’s proposed bill seeks to compel the government to reconsider these taxes, which have been labeled as nuisance taxes by critics.
During his concluding remarks on the State of the Nation Address (SONA) delivered by President Nana Addo Dankwa Akufo-Addo in Parliament, Dr. Cassiel Ato Forson, the Minority Leader, underscored the heavy burden these taxes place on businesses operating in the country. The proposed legislation aims to provide relief and foster a more favorable economic environment for both businesses and citizens.
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Dr. Forson expressed optimism that the Majority side of the House, which endorsed Dr. Bawumia’s stance on removing the E-levy, would also support this bill. The collaborative effort seeks to address pressing issues such as unemployment and the escalating cost of living. Dr. Forson highlighted the economic challenges exacerbated by currency depreciation and food inflation.
A recent World Bank report on food security has further underscored the economic challenges facing Ghana, ranking the country among the top five nations with the highest food inflation. This alarming statistic emphasizes the urgency of addressing these financial concerns, as many families find themselves unable to afford basic necessities.
The proposed bill reflects a commitment to alleviating the economic strain on businesses and citizens, acknowledging the need for strategic measures to counteract the adverse effects of these taxes. As Ghana grapples with economic challenges, the Minority’s legislative initiative signals a proactive approach to fostering economic stability and addressing the pressing issues affecting the lives of many citizens.
In the coming weeks, the parliamentary discussions on the bill are expected to shed light on the potential impact of repealing the E-levy, emissions tax, and betting tax.
