No New Taxes in 2027 Budget, Government Focused on Stability and Growth

The government will not introduce any new taxes in the 2027 Budget, according to Technical Advisor at the Ministry of Finance, Dr Theo Acheampong.

Speaking on TV3's Key Points on Saturday, November 14, Dr Acheampong said the government's decision reflects what he described as improved macroeconomic stability and increased fiscal space to support key initiatives, including the 24-hour economy policy.

"We have the money to kickstart the policy. As I speak today, the government has successfully restored macroeconomic stability," he said.

Presenting the 2027 Budget Statement and Economic Policy to Parliament on November 12, Finance Minister Cassiel Ato Forson said the decision not to introduce new taxes forms part of efforts to ease the financial burden on households and businesses while promoting economic growth.

He noted that since 2025, the government has abolished several taxes and levies, including the Electronic Transfer Levy (E-Levy), the withholding tax on betting and lottery winnings, the COVID-19 Levy, the Emissions (Nwusie) Levy and VAT on motor vehicle insurance.

According to the Finance Minister, the focus of the 2027 Budget is not on imposing additional taxes but on improving revenue collection, reducing leakages and strengthening tax administration.

"This 2027 Budget will not introduce any new tax. Our task is to collect what is lawfully due, close the leakages and make the revenue system work better. Taxpayers deserve clear rules, fair treatment and timely decisions," Mr Forson told Parliament.

The government says the approach is intended to provide relief for households while creating a more supportive environment for businesses and investment.