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The Minority in Parliament has dismissed the government’s claims of abolishing the betting tax and VAT on motor insurance, arguing that these taxes were never implemented in the first place.
Speaking to the media after the presentation of the 2025 Budget Statement and Economic Policy, Karaga MP and former Finance Minister, Dr. Amin Adam, accused the government of misleading the public with its tax reform announcements.
“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 asserted.
Dr. Adam further criticized the government’s claim of removing VAT on motor insurance, explaining that the previous administration had already exempted it. Instead, he alleged that the government has reintroduced VAT on non-life insurance policies, excluding motor insurance.
“The Minister announced that they are abolishing VAT on motor insurance. Ladies and Gentlemen, we were already not collecting VAT on motor insurance. Rather, the minister was trying to be smart—they have reintroduced VAT on non-life insurance, excluding vehicle motor insurance,” he stated.
The Minority expressed concern over the move, especially given Ghana’s low insurance penetration rate of 1.1%. They argue that reintroducing VAT on non-life insurance could further discourage uptake in the sector.
