‘I am happy E-Levy has finally been passed by Parliament’ – Akufo-Addo

Parliament passes E-Levy under certificate of agency

E-Levy rate revised to 1.50%

President Akufo-Addo delivers SONA in Parliament

President Nana Addo Dankwa Akufo-Addo has expressed enthusiasm over the passage of the controversial Electronic Transfer Levy.

According to him, despite stiff opposition, protracted and sometimes acrimonious proceedings that have surrounded the passage of the Bill, he is elated the House has passed the tax measure under a certificate of urgency.

Delivering the State of the Nation address on March 30, 2022, President Akufo Addo told lawmakers, “I am happy that Parliament has, finally, found it possible to pass the E-Levy. I believe the levy going to make a significant contribution to revenue mobilisation and the management of economy.

“I want to thank the Members of the House for making this possible,” he added.

Meanwhile, Parliament has adopted a revised rate of 1.5 percent for the Electronic Transfer Levy from an initial 1.75 percent proposed by government.

This was after Minister for Finance, Ken Ofori-Atta, moved a motion in parliament asking the house to approve the second reading of the reviewed 1.5 percent E-Levy bill to advance its passage following its consideration.

Ken Ofori-Atta argued that the levy when assented into law seeks to raise about GH¢6.9 billion in 2022 which will serve as a key mechanism that ensures Ghanaians contribute their fair share toward development.

The levy which was passed under a certificate of urgency did not make headway without some controversy in the House as the Minority in Parliament staged a walkout citing their refusal to be associated with what they say is a regressive policy that will erode gains made towards a cashless economy and place more burden on citizens.

The E-levy when assented into law will cover all electronic transfers including mobile money, ATM withdrawals, bank transfers among others.

The levy will apply the 1.5 percent charge on all electronic transactions that are more than GH¢100 on a daily basis.