The 2025 budget has announced the abolition of several taxes, bringing relief to businesses and individuals. Here’s what’s changing:
– No more 10% tax on lottery winnings (betting tax)
– 1% E-Levy is gone!
– Emission levy on industries and vehicles scrapped
– No VAT on motor vehicle insurance policies
– COVID-19 levy removed
– 1.5% withholding tax on unprocessed gold sales abolished
This is a big win for businesses, freelancers, and everyday Ghanaians! Less tax means more money in your pocket.
At AA Adams Chartered Accountant, we’re here to help you understand these changes and make the most of them. Let’s talk about what this means for your finances and business.
What do you think about these tax changes? Let’s discuss in the comments.
