Here are the taxes Nana Addo introduced on Ghanaians and businesses since 2017

Since taking office in 2017, the government led by President Nana Addo Dankwa Akufo-Addo has introduced 50 new taxes.

This information was highlighted by Dr. Cassiel Ato Forson, the Minority Leader in Ghana's Parliament.

He criticised these tax measures for placing an additional burden on impoverished Ghanaians and businesses, contradicting the government's earlier promise to shift from a tax-based to a production-based economy.

This phenomenon of tax introduced has raised alarm among entrepreneurs, economists, and policymakers, prompting a critical examination of the factors at play and the implications for the country's economic future.

Here are some of the notable taxes Nana Addo introduced since 2017:

1. 3% VAT Flat Rate
2. 5% increase in VAT by making GETFund and NHIL levies straight taxes
3. 25% increase in corporate tax
4. 2% Special Import Levy
5. 1% COVID-19 Health Recovery Levy on the 3% VAT flat rate
6. 5% National Fiscal Stabilisation Levy
7. Financial Sector Cleanup Levy - 5% on profits of banks
8. 20 pesewas levy on a liter of petrol/diesel
9. 10 pesewas Sanitation Levy on a liter of petrol/diesel
10. 18 pesewas levy on LPG
11. Luxury vehicle tax
12. 50% increase in Communication Service Tax
13. 30% increase in Energy Sector Levy
14. 11% increase in Special Petroleum Tax
15. 200% increase in BOST margin
16. 40% increase in Price Stabilization & Recovery Levy
17. 10% withholding tax on betting, lottery, etc.
18. 20% tax on betting companies
19. 35% increase in Income Tax for high earners
20. 3% & 10% withholding tax on realization of assets and liabilities
21. 25% increase in tax on gifts and gains
22. Profit before tax levy on companies
23. 5% tax on companies declaring losses
24. 1.5% Electronic Transfer Levy (E-Levy)
25. 1.75% tax on bank transfers
26. 1.75% tax on remittances
27. 15% increase in government fees
28. 35% increase in corporate tax on mining companies
29. 22% corporate tax on hotels
30. Excise duty on cars, motorbikes, etc.
31. 1% stamp tax
32. 35% payroll tax (PAYE)
33. Customs and Excise duties on sachet water, bottled water, malt drinks, beers, wines, spirits, cigars, plastic products, textiles, etc.
34. Growth and Sustainability Levy
35. Excise Duty Amendment Bill 2022
36. Ghana Revenue Authority Bill 2022
37. Income Tax Amendment Bill 2022
38. New Income Tax for Lottery, Betting & Games of Chance
39. Withholding Tax on Winnings from Betting, Lottery & Games of Chance
40. Increased Marginal Income Tax Rate for Individuals
41. Foreign Exchange (FX) Loss Deductibility Restrictions
42. New Tax Return for Realisation of Assets & Liabilities
43. Pension-Related Tax Exemption for Early Withdrawals
44. Changes in Motor Vehicle Benefit for Employees
45. Road Fund Levy Increase
46. Excise duty on sachet water, bottled water, malt drinks, beers, wines, spirits, cigars, plastic products, textiles, etc.
47. Excise Duty Review
48. Excise Tax Stamps on products
49. Unified Loss Carry Forward Position
50. Foreign Exchange (FX) Loss Deductibility Restrictions

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