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The Association of Ghana Industries (AGI) has expressed disappointment over the government’s decision to extend the sunset clause for the Growth and Sustainability Levy (GSL) and the Special Import Levy until 2028.
Tsonam Akpeloo, Greater Accra Chairman of AGI, described this decision as a major setback for businesses, particularly in the manufacturing and industrial sectors.
His comments follow the presentation of the 2025 Budget Statement by Finance Minister Dr. Cassiel Ato Forson in Parliament on Tuesday, March 11, 2025.
During his presentation, Dr. Forson stated: “Consequently, we are proposing to increase the Growth & Sustainability Levy from 1% on the gross production of mining companies to 3% to enable the nation to have its fair share of the windfall from an increase in gold prices. We also propose to extend the sunset clause to 2028.”
Speaking on Eyewitness News, Mr. Akpeloo acknowledged some positive elements in the budget but expressed concern over the extension of the levy, calling it a major blow to businesses.
“To be fair, this is great news, and we welcome it fully. But you see, there are key issues that we have been looking forward to. For example, the issue around the Growth and Sustainability Levy and the Special Import Levy. If you follow our advocacy all this while, you will realize that we have been waiting for these clauses to end this year. But somehow, the minister extended it to 2028, and that caught us off guard.
“This is because the Growth and Sustainability Levy, which ranges from 1-5% of revenue, affects us in a big way. When we have been engaging the government all these years, they assured us that this levy, for example, would be gone by the end of this year. But to have it extended to 2028 is still a big blow to us,” he stated.
The AGI Chairman stressed that extending the sunset clauses would significantly increase operational costs for businesses, potentially affecting their growth and competitiveness.
He also revealed that AGI intends to engage the government in discussions to reconsider the 2028 extension and bring it closer to the initial timeline.
“We intend to discuss with the government to see if this 2028 date will be reconsidered to ensure that we bring it closer. We had no plan towards it,” he added.
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