2027 Budget: We're not introducing new tax handles; govt has successfully restored macroeconomic stability - Theo Acheampong
The government, he said, now has the fiscal space to partner with the private sector in driving the 24-hour economy.
Dr. Theo Acheampong, a technical advisor at the Ministry of Finance, announced that the 2027 budget will not introduce any new tax measures. He emphasized that the government has successfully restored macroeconomic stability. This fiscal stability has created the necessary financial resources for the government to collaborate with the private sector in promoting the 24-hour economy.
During a televised address on Saturday, November 14, the presenters discussed the budget statement and economic policy to Parliament on Thursday, November 12. Ato Forson, the government's spokesperson, explained that the decision not to impose new taxes aimed to alleviate the financial strain on households, encourage business growth, and create an environment conducive to economic expansion.
Since taking office in 2025, the government has undertaken several tax policy reforms, including the termination of the E-Levy, withholding tax on betting and lottery winnings, COVID-19 Levy, Emissions (Nwusie) Levy, and VAT on motor vehicle insurance. These actions were meant to relieve household burdens while granting businesses greater flexibility to operate and contribute to the economy.
The Finance Minister reiterated that the 2027 Budget would not introduce any new taxes. Instead, the focus would be on collecting the taxes owed, addressing revenue leaks, and enhancing the effectiveness of the revenue system. Taxpayers were urged to expect clear rules, equitable treatment, and prompt decisions.
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