The Deputy Finance Minister, Thomas Nyarko Ampem, has revealed that President John Mahama is expected to assent to the Electronic Transfer Levy (E-Levy) repeal bill by Thursday, March 27.
Mr Ampem explained that while Parliament has already passed the bill, it has yet to be transmitted to the President for his signature.
“Parliament is still in session, and so I doubt the Clerk has been able to transmit what we are doing to the President. There are several other bills that we are considering, so if they will be able to do that, it will have to be tomorrow or the day after,” he said.
He assured Ghanaians that once the President assents to the bill, the Finance Ministry will immediately direct the Ghana Revenue Authority (GRA) to halt the collection of the E-Levy.
“I understand the President may be out of town tomorrow, and so all things being equal, by Wednesday, he will assent to the bill. Once that happens, the Finance Ministry will get the GRA to discontinue collecting the E-Levy, and it’s going to happen as soon as possible.”
Mr Ampem further noted that the GRA is already prepared for the transition, and implementation will take place swiftly after President Mahama’s approval.
“My discussions with the Commissioner General indicate that as soon as the President assents, they will take steps to comply,” he said.
The repeal of the E-Levy has been widely welcomed by Ghanaians, who strongly opposed the tax.
The levy, which was introduced in 2022 by the previous New Patriotic Party administration, imposed a 1.5% tax on electronic transactions, including mobile money transfers, bank transfers, and online payments.
Commenting further about the timeline for the E-Levy’s full repeal, Mr Ampem expressed confidence that it will take effect even before March comes to an end.
“I’m sure it will take effect before next week Friday,” the Deputy Finance Minister added.
Voice of Thomas Nyarko Ampem
Similarly, the Majority Leader Mahama Ayariga says the government has reduced the tax burden on Ghanaians by removing the levy.
Voice of Mahama Ayariga
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