Taxes Introduced by Nana Addo Since 2017: A Comprehensive Overview

Ken Agyapong Urges NPP to Apologize for Economic Hardships

Prof. Oquaye Credits NPP for Human Rights in Ghana, Criticizes Nkrumah’s Regime

Advertisement. Scroll to continue reading.

Since President Nana Addo Dankwa Akufo-Addo assumed office in 2017, his administration has introduced 50 new taxes affecting both Ghanaians and businesses. This development, highlighted by Dr. Cassiel Ato Forson, the Minority Leader in Ghana’s Parliament, has sparked significant debate and criticism.

Dr. Ato Forson criticized these tax measures for burdening impoverished citizens and businesses, contrasting sharply with the government’s initial promise to transition from a tax-based economy to a production-based one. Entrepreneurs, economists, and policymakers have expressed concerns about the potential long-term implications for the country’s economic future.
Here are some of the notable taxes introduced since 2017:
1. 3% VAT Flat Rate
2. 5% Increase in VAT
3. Conversion of GETFUND & NHIL Levies to Taxes
4. 25% Increase in Corporate Tax
5. 2% Special Import Levy
6. 1% COVID Levy + 3% VAT = 4%
7. 1% COVID Levy on 2.5% NHIL Levy
8. 5% Fiscal Stabilization Levy
9. 5% Financial Sector Cleanup Recovery Levy
10.1% E-Levy
11. 20p Levy on a Litre of Petrol/Diesel
12. 10p Sanitation (Borla) Levy on a Litre of Petrol/Diesel
13. 18p Levy on LPG
14. 2.5% Increase in VAT
15. Luxury Vehicle Tax
16. 50% Increase in Call Tax
17. 30% Increase in the Energy Sector Levy (ESLA)
18. 11% Increase in Special Petroleum Tax
19. 200% Increase in BOST Margin
20. 40% Increase in Price Stabilization & Recovery Levy
21. 25% Increase in Primary Distribution Margin
22. 36% Increase in Unified Petroleum Price Fund
23. Road Fund Increase
24. 10% Withholding Tax on Betting, Lottery, etc.
25. 20% Increase in Tax on Betting Companies
26. 35% Increase in Income Tax
27. 3% & 10% Withholding Tax on Assets & Liabilities
28. 25% Increase in Tax on Gifts & Gains
29. Profit Before Tax Levy on Companies
30. 5% Tax on Companies Declaring Losses
31. Tax on Motor Vehicle Benefits
32. 1.75% Tax on Bank Transfers
33. 1.75% Tax on Remittances (Borgo Tax)
34. 15% Increase in Government Fees
35. 35% Increase in Corporate Tax on Mining Companies
36. 22% Corporate Tax on Hotels
37. Excise Duty for Owning a Car, Motorbike, etc.
38. 1% Stamp Tax
39. 35% Payroll Tax (PAYE)
40. Customs & Excise Duty on Sachet Water, Bottled Water, Malt Drinks, Beers, Wines, Spirits, Cigars, Plastic Products, Textiles, etc.
These taxes have raised alarm among various stakeholders, prompting a critical examination of their impact on the country’s economic stability and growth. As the debate continues, it remains to be seen how these measures will shape Ghana’s economic landscape in the coming years.