Former Finance Minister Dr. Mohammed Amin Adam has praised 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 revealed the removal of taxes such as the betting tax and the E-Levy, aiming to reduce the financial burden on Ghanaians.
In an interview with Bernard Avle on Channel One TV’s “The Point of View” on March 17, Dr. Amin Adam commended these tax cuts but raised concerns about the significant increase in the Growth and Sustainability Levy on mining companies, from 1% to 3%. He warned that heavily taxing key sectors like mining, which are vital for economic growth, could have unintended negative consequences.
“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?
