Parliament has passed a landmark bill to abolish the Emission Levy and Betting Tax, a move expected to provide relief to businesses, individuals, and industry players affected by these tax policies.
The Emission Levy, introduced in 2024 to curb carbon emissions and promote environmental sustainability, faced widespread opposition from vehicle owners and businesses due to the financial burden it imposed.
Similarly, the controversial 10% Betting Tax, introduced to tax earnings from sports betting and gambling activities, has also been repealed.
While the tax was aimed at boosting government revenue from the expanding betting industry, it was met with strong resistance from betting companies and patrons.
Critics argued that the tax discouraged participation and caused a decline in revenue for operators.
The abolition of these taxes is expected to restructure tax obligations for businesses and individuals, with potential implications for income brackets, corporate taxation, and deductions.
The recently approved bill has successfully cleared all parliamentary hurdles and now awaits President John Dramani Mahama’s signature to officially become law.
Source: William Narh
