President John Dramani Mahama is set to assent to the Electronic Transfer Levy (E-Levy) repeal bill by Wednesday, March 27, according to Deputy Finance Minister Thomas Nyarko Ampem. The bill, which has already been passed by Parliament, is awaiting transmission to the President for his signature.
During an appearance on JoyNews’ PM Express, Mr. Ampem explained that Parliament is still in session, and the Clerk may not have had the opportunity to transmit the bill to the President yet. He mentioned that there are other bills being considered as well, but he anticipates that the transmission will occur by Wednesday.
Once President Mahama signs the bill into law, the Finance Ministry will instruct the Ghana Revenue Authority (GRA) to cease the collection of the E-Levy. Mr. Ampem assured the public that the implementation will happen promptly after the President’s approval.
The GRA is prepared for the transition, and the implementation will be swift once the bill is enacted. The repeal of the E-Levy has been met with widespread approval from Ghanaians who strongly opposed the tax. Introduced in 2022 by the previous New Patriotic Party administration, the levy imposed a 1.5% tax on electronic transactions, including mobile money transfers, bank transfers, and online payments.
Regarding the timeline for the full repeal of the E-Levy, Mr. Ampem expressed confidence that it will come into effect before the end of March. He stated, “I’m sure it will take effect before next week Friday.”
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