The Minority in Parliament has strongly criticized the government’s 2025 Fiscal Policy, accusing it of misleading Ghanaians with claims of abolishing certain taxes that were never implemented.
Addressing the media in Parliament shortly after the presentation of the 2025 Budget Statement and Economic Policy, Karaga MP and former Finance Minister, Dr. Amin Adam, dismissed the announcement that the government was scrapping the betting tax and the VAT on motor insurance.
“Ladies and Gentlemen, betting tax that they said they had abolished, we never collected betting tax.
“We never implemented the betting tax so to come and tell Ghanaians that you have abolished something that was never implemented is to deceive the people of Ghana,” he stated.
Dr. Adam also challenged the claim that VAT on motor insurance had been removed, insisting that such a tax was never in effect.
“The Minister announced that they are abolishing VAT on motor insurance. Ladies and Gentlemen, we were already not collecting VAT on motor insurance.
“VAT on motor insurance was exempted, rather the minister was trying to be smart, they have re-introduced VAT on non-life insurance with the exemption of the vehicle motor insurance.
“So, all other insurance given that the penetration of the insurance industries is 1.1%, we are so shocked that the Minister will reintroduce VAT on non-life insurance except VAT on motor insurance,” he asserted.
The Minority contends that the government is attempting to gain political points by presenting non-existent tax cuts while simultaneously reintroducing VAT on non-life insurance, a move they argue will further burden Ghanaians.
