Professional services firm, Deloitte has welcomed the tax reforms in the 2025 Budget Statement and Economic Policy, describing it as business-friendly.

According to the Country Managing Partner, Daniel Kwadwo Owusu, the budget sets a good tone for business transformation as the economy rebounds.

He was speaking with Joy Business on the sidelines of the Deloitte Economic Dialogue in Accra.

The dialogue unpacked key policy measures in the budget for many stakeholders to make input and suggestions for implementation.

An overall analysis by Deloitte revealed that the budget is well accepted by the business community and a response to the cry of many.

The Country Managing Partner of Deloitte, Daniel Owusu, expressed confidence that the tax reforms and initiatives in the budget will support growth.

“The Ghanaian economy has experienced significant challenges in recent years. I cite a few - high Inflation levels where we peaked at 54% in 2022 and have not come to the expected levels.  We’re in a situation where we need to tighten our belt and I can see the government doing that in recent times with the very important government machinery through the reduction of ministers and all that”

“We have to rationalise expenditure. We have to do more and generally, it is positive which we hoping it will also incentivise businesses to do more so we can see the changes we expect in the system”, he said.

The Economic Advisor to the President, Seth Terkper, used the occasion to signal some reviews in the tax refund system to attract more people into the tax net.

Speaking on behalf of industries, the Chief Executive of the Association of Ghana Industries, Seth Twum Akwaboah, made a case for the government to take a second look at extending the sunset clause on some tax handles.

“We often see some of these taxes changed into different names with sunset clauses but we don’t normally see the government taking it out of the system”.

“In actual fact, the sun never sets and businesses are made to continue paying. This is a concern to us and I think the government must take a second look at that”, he added.

The dialogue was under the theme "Ghana’s Economic Transformation Agenda; Key Considerations for a successful Reset.