Deputy Finance Minister-designate, Thomas Nyarko Ampem, has assured the public that the government’s 2025 budget will not include any new taxes.
His statement comes in response to concerns raised by the Minority in Parliament, who speculate that new levies may be introduced to generate an estimated GHC 200 billion in revenue.
Nyarko Ampem dismissed these claims, reaffirming the government’s commitment to reducing the tax burden on citizens.
He explained that rather than imposing additional taxes, the government plans to focus on expanding the tax net and improving compliance to boost revenue.
Speaking ahead of the budget presentation scheduled for March 11, he said, “The Finance Minister has consistently stated that we do not need new taxes to generate more revenue. Instead, our approach will center on broadening the tax base and enhancing compliance. This will be a major theme in the budget presentation”.
“Given our restricted access to international bond markets, we are adopting a dual approach—enhancing revenue collection and managing expenditures effectively” he emphasized.
The government’s 2025 Budget Statement and Economic Policy according to Mr. Nyarko Ampem will focus on revenue enhancing measures without introducing new taxes, in line with its broader economic reform agenda.
