Dr. Bawumia announces vision for simplified tax system

In a significant policy announcement at the University of Professional Studies, Accra, Dr. Mahamudu Bawumia, the New Patriotic Party's flagbearer, outlined his vision for a simplified and citizen-friendly tax system.

If elected president, Bawumia pledged to introduce a straightforward flat tax regime for individuals and Small and Medium Enterprises (SMEs), aiming to streamline the tax return

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Highlighting his commitment to a cashless economy, Bawumia expressed his intention to abolish the controversial e-levy on electronic financial transactions. He believes eliminating the e-levy is crucial for realizing his vision of a digital and cashless Ghana.

As part of a comprehensive tax reform agenda, the flagbearer also promised to abolish the emission tax, taxes on betting, and the proposed 15% VAT on electricity tariffs, if enacted by January 2025.

These proposed tax reforms aim to simplify the current complex tax system, promote electronic payment channels, and alleviate the financial burden on citizens and businesses. Dr. Mahamudu Bawumia's vision aligns with creating a tax environment that fosters economic growth and enhances the digital transformation of Ghana.