Businesses divided over 2025 Budget – PwC

Professional services firm, PwC, has revealed that businesses are divided over the 2025 Budget.

In its analysis of the 2025 Budget, it said some businesses would be happy at the removal of taxes, while others would be disaffected by the extension of the sunset clause.

“Some businesses would be happy at the removal of taxes, others would be disaffected by the extension
of sunset clauses, some might get nervous at the call for them to contribute to tax revenues, and yet
others would be unhappy at the government’s decision to cut back on public spending on goods and services, as well as strictly adhere to public procurement through GHANEPS4”.

“We expect importers to be pleased that the government promises to review all taxes, fees and charges at the ports and remove those inimical to business. However, many more businesses are unhappy that VAT reforms are not immediate”, it added.

On VAT reforms, it said on different occasions that it noted that the government would need some time to assess the fiscal implications of these reforms as it entails some complexities.

“At PwC, we have opposing views on some of the initiatives or measures the Hon. Minister [Dr. Cassiel Ato Forson] has been included in the 2025 Budget and we would seek opportunities— including leveraging the proposed quarterly dialogue on tax issues among GRA [Ghana Revenue Authority], Ministry of Finance, and the business community—to engage with him and/or his ministry to get a better understanding of the intent behind these measures”, it added.

Similarly, it will share its own thoughts on such measures. One such area relates to the removal of the emissions levy.

The budget also packed a plethora of initiatives, for example the GH¢1.5 billion AETA and the US$10 billion-Big Push programme that has GH¢13.8 billion allocated to it in 2025.

“We expect all these interventions plus existing plus existing commitments to exert significant financing pressures on government.