John Dramani Mahama, the National Democratic Congress (NDC) flagbearer, has reaffirmed his commitment to abolishing the E-levy if elected president in the upcoming 2024 general elections.
Additionally, he has promised to eliminate certain taxes that have proven to be cumbersome for both businesses and households.
Mahama has assured that under his administration, businesses will not face constant tax audits or harassment from the Economic and Organised Crime Office (EOCO).
Initially introduced in 2022 with a rate of 1.75 percent, the E-levy has faced significant backlash, leading to its reduction to 1.5 percent and later to 1 percent.
Speaking at the 8th Ghana CEO Summit in Accra, Mahama pledged to trim excessive government spending, emphasizing that this, coupled with reducing the tax burden, would create a more conducive environment for businesses and alleviate financial pressures on households.
He outlined plans to achieve these goals by curbing government expenditures, combating waste and corruption, broadening the tax base, simplifying VAT, and enhancing its collection methods. He also vowed to scrap burdensome taxes and ensure a more efficient tax administration system.
Furthermore, Mahama expressed his determination to stabilize the economy and strengthen the national currency. He announced intentions to initiate an urgent economic recovery and fiscal consolidation plan within the first 100 days of his presidency, following a national economic dialogue.
