No new taxes in 2027 budget – Ato Forson

The finance Dr. Cassiel Ato Forson, has announced that it will introduce no new taxes in 2027, while targeting an economic growth rate of at least 5.2 per cent as part of measures to sustain economic recovery and stimulate business activities.
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‎He made this announcement while presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, 2026, on the authority of President John Dramani Mahama.
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‎According to the Finance Minister, the government intends to improve revenue mobilisation through stronger compliance, modernised tax administration and the closure of revenue leakages rather than introducing additional tax burdens.
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‎”This 2027 Budget will not introduce any new tax,” Dr Forson stated.
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‎He explained that the government had already abolished several taxes since 2025 to provide financial relief to households and businesses.
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‎Among the abolished taxes are the Electronic Transfer Levy (E-Levy), withholding tax on betting and lottery winnings, COVID-19 Levy, Emissions (Nwusie) Levy and Value Added Tax (VAT) on motor vehicle insurance.
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‎The Minister said the government’s priority was to ensure that existing tax obligations were properly collected while making the revenue system more efficient.
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‎”Our task is to collect what is lawfully due, close the leakages and make the revenue system work better,” he said.
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‎As part of the revenue reforms, government will review and modernise the Income Tax Act, Revenue Administration Act, Stamp Duty administration and Communications Service Tax framework.
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‎The budget also proposes a review of Ghana’s Double Taxation Agreements to address tax evasion and treaty abuse while protecting legitimate investment.
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‎On the economic outlook, government is targeting real Gross Domestic Product (GDP) growth of at least 5.2 per cent in 2027, with non-oil GDP growth expected to reach 5.7 per cent.
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‎Inflation is projected to remain within the target band of 8 ± 2 per cent, while the government is targeting a primary surplus of at least 0.5 per cent of GDP on a commitment basis.
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‎Gross International Reserves are also expected to provide not less than six months of import cover.
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‎Dr Forson said the fiscal policy direction would preserve economic stability while creating room for investments in productive sectors.
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‎He indicated that government would maintain expenditure discipline, strengthen domestic revenue mobilisation and address inefficiencies in public spending.
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‎The budget further proposes exemptions from import duties and VAT on solar panels and batteries to encourage households and businesses to adopt renewable energy.
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‎The government says the exemptions are intended to reduce the cost of solar technology and support the country’s energy transition.
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‎The economic targets form part of the government’s broader New Economy programme, which seeks to transform Ghana’s productive capacity, expand businesses and create sustainable employment opportunities.