Government has ruled out the introduction of new taxes in 2027, saying it will focus on improving revenue collection and addressing leakages within the existing tax system.
The commitment was announced by Finance Minister Dr Cassiel Ato Forson during the presentation of the 2027 Budget Statement and Economic Policy.
In the budget, the Finance Minister said government would not introduce any new tax measures in the coming year.
He said the priority would be to collect revenue lawfully due, close leakages and make the revenue system work better.
The announcement follows the abolition of several tax measures since 2025, including the Electronic Transfer Levy, withholding tax on betting and lottery winnings, the COVID-19 Levy, the Emissions Levy and Value Added Tax on motor vehicle insurance.
Despite ruling out new taxes, government intends to review and modernise a number of existing tax laws and administrative frameworks in 2027.
These include the Income Tax Act, the Revenue Administration Act, Stamp Duty administration and the Communications Service Tax framework.
The government also plans to review customs tariff concessions on selected raw materials, machinery and industrial inputs.
It says the changes are intended to improve tax administration, strengthen compliance and support local industry.
For households and businesses, the no-new-taxes announcement offers an indication of the government’s revenue policy for 2027. However, the impact will also depend on how the planned reviews of existing laws are implemented.
The distinction is important because a decision not to introduce new taxes does not mean the existing tax system will remain unchanged.
Government will still need to demonstrate how it intends to raise sufficient revenue to finance its programmes without imposing additional tax measures.
The budget projects total revenue and grants of GH¢323.4 billion in 2027, with domestic revenue expected to account for GH¢320.2 billion.
The challenge will be to meet these revenue targets through improved administration and compliance while ensuring that taxpayers are treated fairly.
