Parliament rejects removal of GH¢100 threshold, approves 1% rate for E-Levy
Electronic transfer levy
Parliament has rejected the removal of the GH¢100 threshold on E-Levy announced by the government in the 2023 budget.
Read full articleThe decision to remove the threshold was strongly opposed by the minority before it was sent to parliament for approval. However, the government did not include the removal of the threshold when it presented the act to parliament for amendment.
A Ranking Member of parliament’s finance Committee, Dr. Cassiel Ato Forson, commended the government for rescinding its decision to remove the threshold.
“We in the Minority had indicated strongly that we do not believe that the GH₵100 threshold must be removed for several reasons.
“They have listened and in presenting the e-levy bill clearly, they have decided to remove what they had intended to exclude. Mr. Speaker, it is important for us to commend them for at a minimum they have listened,” he said on the floor of Parliament.
Parliament approved the amendment to the Electronic Transaction Levy (E-levy) Act on Wednesday, December 21, 2022, which has seen the revision of the E-Levy rate to 1%.
The government during the presentation of the 2023 budget announced the revision of the E-Levy rate to 1% and the removal of the daily GH¢100 threshold.
This saw agitation from Ghanaians who declared their displeasure with the tax measure in 2022 when it was implemented.
But the government insisted that the tax measure was important to widen the country’s tax net.
SSD/BOG
