Parliament has unanimously handed the Digital Levy Invoice, 2025, an Act to abolish the controversial Electronic Transfer Levy, popularly often known as the E-Levy.
Throughout proceedings on Wednesday, March 26, the Chairman of the Finance Committee, Isaac Adongo, announced the committee’s unanimous resolution to repeal the levy.
He acknowledged the extreme opposition that met its introduction underneath the earlier administration as a result of its impression on the disposable revenue of unusual Ghanaians.
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The invoice underwent a second studying and a debate, the place its repeal was additional supported by Dr Stephen Amoah, former Deputy Finance Minister and MP for Nhyaieso, Majority Chief Mahama Ayariga, and several other different MPs from either side of the Home.
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Following a quick debate, the invoice proceeded to a 3rd studying, moved by Finance Minister Dr Cassiel Ato Forson and seconded by Isaac Adongo, earlier than being adopted by Presiding Speaker Bernard Ahiafor. It now awaits presidential assent for ultimate approval.
This growth fulfils President John Mahama’s marketing campaign promise to abolish the E-Levy inside his first 120 days in workplace.
Background
The Digital Switch Levy (E-Levy) was launched in Might 2022 underneath the Digital Switch Levy Act, 2022 (Act 1075) and its modification, Act 1089.
The coverage imposed a 1% levy on digital transfers, together with transactions facilitated by banks and cellular cash suppliers. It was designed to broaden the tax base and improve public contributions to nationwide growth.
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Nonetheless, the levy failed to fulfill income expectations. Initially projected to generate GH¢2.24 billion in its first 12 months, it solely accrued GH¢246.9 million, representing simply 11% of the anticipated income.
Now, with the passage of the Digital Levy Invoice, 2025, Ghana strikes nearer to eliminating the tax, pending ultimate approval by the President.
