- Dr. Amin Adam supported removing taxes like the betting tax and E-Levy
- He worried about the big increase in the mining tax
- He stressed not to over-tax the mining industry, which helps the economy grow
Former Finance Minister Dr. Mohammed Amin Adam has praised his successor, Dr. Cassiel Ato Forson, for removing certain taxes introduced by the previous government.
In the 2025 budget presented on March 11, Dr. Forson announced the abolition of taxes such as the betting tax and the E-Levy, with the aim of reducing the financial strain on Ghanaians.
Speaking in an interview with Bernard Avle on Channel One TV’s “The Point of View” on Monday, March 17, Dr. Amin Adam expressed support for these tax cuts but raised concerns over the significant increase in the Growth and Sustainability Levy for mining companies, from 1% to 3%.
He warned that imposing heavy taxes on key sectors like mining, which are vital for economic growth, could be counterproductive.
“I believe he has made progress, but I also think he has introduced additional taxes. For instance, the Growth and Sustainability Levy increased by 200%, from 1% to 3%. If you tax the sector that drives growth more heavily, what kind of economic strategy is that?” he questioned.
“I’m not against taxing the extractive industry, but if it’s the sector fueling our growth, why would you want to tax the hen that lays the golden egg?”
