By Elsie Appiah-Osei
Accra, March 27, GNA – Parliament has passed a landmark bill to abolish the Emission Levy, providing relief to businesses, individuals, and industry players affected by the tax policy.
The move is expected to restructure tax obligations for businesses and individuals, with potential implications for income brackets, corporate taxation, and deductions.
The Emission Levy, introduced in 2024 to curb carbon emissions and promote environmental sustainability, has faced widespread opposition from vehicle owners and businesses due to the financial burden it imposed.
Dr Cassiel Ato Forson, the Finance Minister, who spoke on the Floor of Parliament said the removal of the taxes would ease the burden on households and improve their disposable incomes.
In would also support business growth and improve tax compliance, he stated.
Dr Forson explained that with the passage of the bill, the government had demonstrated its commitment to listening to the concerns of its citizens and taken steps to alleviate their financial burdens.
“As the country continues to navigate its economic landscape, this move is expected to have a positive impact on businesses, individuals, and the economy as a whole,” he told Parliament.
The abolition of the tax is part of the government’s efforts to promote financial inclusion and encourage the use of digital payment platforms.
The recently approved bill has successfully cleared all parliamentary hurdles and now awaits President John Dramani Mahama’s signature to officially become law.
GNA
CAA