John Dramani Mahama, the National Democratic Congress (NDC) candidate, has promised to eliminate the E-levy if elected in the 2024 elections.
He also plans to remove certain taxes that burden businesses and households. Mahama assured that his administration would avoid excessive tax audits and harassment by the Economic and Organised Crime Office (EOCO).
The E-levy, introduced in 2022 to boost domestic revenue, started at 1.75 percent but was later reduced to 1.5 percent and then to 1 percent due to criticism.
Speaking on Monday, May 27, at the 8th Ghana CEO Summit in Accra, the former president also pledged to reduce overly high government spending.
Mahama emphasized that easing fiscal pressures on consumers and improving business conditions would come from cutting taxes and simplifying government spending.
He reaffirmed his commitment to stabilizing the economy and bringing the currency back.
Within a year of taking office, Mahama declared his aim to begin an immediate economic recovery and fiscal restructuring.
What he said:
“This would be done 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. Won’t burden you with endless tax audits and harass you with EOCO.”
“The number one priority will be stabilising the economy and restoring a stable currency by launching an urgent economic recovery and fiscal consolidation plan following a national economic dialogue to happen within one hundred days of assumption of office.”
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