No new taxes will be introduced in 2027 Budget – Ato Forson assures Ghanaians

The Minister for Finance, Dr Cassiel Ato Forson, has assured households and businesses that the government will introduce no new taxes in 2027, saying the focus will instead be on strengthening revenue mobilisation and addressing inefficiencies in the tax collection system.

He said the government would concentrate on closing revenue leakages and ensuring that individuals and businesses paid taxes and other revenues legally due to the state.

Presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, Dr Forson said the decision formed part of efforts to ease the financial burden on households, support businesses and create an enabling environment for economic growth.

He said since assuming office in 2025, the government had implemented a number of tax policy measures aimed at reducing the financial obligations of individuals and businesses.

Among the measures were the abolition of the Electronic Transfer Levy (E-Levy), withholding tax on betting and lottery winnings, the COVID-19 Levy, the Emissions (Nwusie) Levy and Value Added Tax (VAT) on motor vehicle insurance.

Dr Forson said the measures were intended to provide financial relief to households while giving businesses greater room to operate, expand and contribute to economic activity.

He reiterated that the 2027 Budget would not introduce any new tax, stressing that the government’s priority was to improve the efficiency and effectiveness of the existing revenue system.

“Our task is to collect what is lawfully due, close the leakages and make the revenue system work better. Taxpayers deserve clear rules, fair treatment and timely decisions,” he said.

The finance minister said improving compliance and plugging loopholes in revenue administration would be central to the government’s approach to mobilising domestic revenue without introducing additional tax measures.

Judith Twumwaa, ISD