Former Finance Minister Dr. Mohammed Amin Adam has commended his successor, Dr. Cassiel Ato Forson, for abolishing certain taxes introduced by the previous administration.
In the 2025 budget presented on March 11, Dr. Forson announced the removal of taxes such as the betting tax and E-Levy, aiming to alleviate the financial burden on Ghanaians.
In an interview with Bernard Avle on Channel One TV’s “The Point of View” on Monday, March 17, Dr. Amin Adam praised these tax cuts. But he expressed concerns over the substantial increase in the Growth and Sustainability Levy on mining companies from 1% to 3%.
He cautioned that heavily taxing sectors crucial to economic growth, like mining, could be counterproductive
I think that he has delivered, but I think that he has also imposed additional taxes. For example, the Growth and Sustainability Levy increased by 200% from 1 to 3%. If the sector that gives you growth is the sector that you are heavily taxing more, then what kind of economics are you doing?
“I’m not saying don’t tax extractive industry, but if you are alluding to the fact that, that is what generates our growth, why would you want to tax the hen that lays the golden egg?
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