The President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng, has described the  2025 Budget Statement and Economic Policy as welcoming.

This comes after the Finance Minister in the 2025 budget presentation announced the abolition of several taxes, including the Covid-19 levy, Betting Tax and E-Levy.

In an interview on Joy FM's Newsnight on Tuesday, March 11, he commended the government for showing good intentions toward businesses and Ghanaians through the removal of some taxes.

"The government has shown good intentions already, and it is welcome news for us. The fact that some taxes have been removed off the table, and yet no new taxes are added to the tax burden that we have here.

"So, in that case, the government has shown very good intention towards Ghanaians in general and the business community as well," Dr. Obeng said.

• Read also: VAT should be restructured to support businesses – GUTA

He, however, emphasised the need for Value Added Tax (VAT) reforms, which he believes will significantly impact businesses, particularly in the area of duty payments and trading activities.

Dr. Obeng acknowledged the Finance Minister’s promise to engage stakeholders in shaping the VAT reforms, expressing hope that the reforms will bring positive changes to businesses.

• Read also: I’ll Institute a VAT reform task force – Finance Minister

"What we are waiting for now is the VAT reforms. That one is very important for us because that will show the real impact when it comes to duty payment and other trading activities that we do. So we are waiting for that," he stated.

• Read also: 2025 Budget: E-levy, betting tax and others to be abolished – Finance Minister