Country Managing Partner at Deloitte Ghana, Daniel Owusu
The Country Managing Partner at Deloitte Ghana, Daniel Owusu, has revealed that while no new taxes were introduced in the government’s 2025 budget, some existing taxes have been increased and extended.
According to him, home-grown solutions are necessary to address the country’s fiscal challenges.
On Tuesday, March 11, 2025, the Minister of Finance, Dr. Cassiel Ato Forson, presented the 2025 Budget and Economic Policy of the government before lawmakers, announcing plans to abolish certain major taxes instituted by the previous administration.
Speaking to GhanaWeb Business on the sidelines of the 2025 Deloitte Economic Dialogue on March 17, 2025, Daniel Owusu noted that while the government’s approach did not involve introducing new taxes, the expansion and increase of existing ones would have a significant impact on businesses and consumers.
“One key point is that no new taxes were added, but you see that some taxes were extended and increased. So, where we are now, we have to find a home-grown solution,” he stated.
“We need to be able to generate the funding for the projects we want to embark on. We have been squeezed out of the world market now, so how do we do it? We need to find money from somewhere. The question is, is it business-friendly? We will have business-friendly taxes where the entire system and businesses can respond effectively,” he added.
The 2025 Deloitte Economic Dialogue brought together industry experts to analyze the implications of Ghana’s 2025 Budget and explore effective strategies for navigating the country’s evolving economic landscape.
The dialogue focused on key fiscal policies, tax reforms, and economic growth prospects, providing businesses and policymakers with insights to adapt to emerging challenges and opportunities.
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