• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

President Akufo-Addo assents to E-levy Bill

3 years ago
in Banking & Finance, Business, Editor's pick, Features, highlights, Home, home-news, latest News, Tech-guide, Technology, Telecom
2 min read
0 0
0
83
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

President Akufo-Addo assents to E-levy Bill

Sources close to the Presidency, have revealed that President Akufo-Addo has signed the E-levy Bill into law.

Speaking to the media, Minister for Information, Kojo Oppong Nkrumah, confirmed that, the President assented to the Bill on Thursday, March 31, 2022.

As a result, the Bill, which was passed by Parliament on Tuesday, has now become a binding law which will be operationalised as a revenue measure across the country.

Meanwhile, the Finance Minister, Ken Ofori-Atta has hinted that the implementation of the levy may commence in May, 2022.

According to him, the Ghana Revenue Authority (GRA) will have all the systems in place for the operationalization of the levy by then.

“We had a key meeting with the Controller General and the GRA and they have indicated to us that right at the beginning of May, they should be able to get the systems altogether,” he said.

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

Background to the Presidential assent

Parliament approved the controversial Electronic Transactions (E-Levy) Bill on Tuesday afternoon.

This decision was reached after the Consideration Stage was completed by a Majority-sided House on Tuesday, March 29, 2022.

It was considered under a certificate of urgency.

The Bill was adopted at a reduced rate of 1.5% from the initial 1.75% amid a Minority walkout.

The tax, which has become a subject of debate among Ghanaians is expected to rake in close to ¢6 billion in tax revenue for the country.

The Ghana Revenue Authority (GRA) has already hinted that its structures have been revised and ready to ensure mobilization of the income.

The Finance Minister was in Parliament to push for the Bill’s passage a day to President Akufo-Addo’s State of The Nation Address.

From the onset, the Minority had accused the Majority Caucus of smuggling into the Order Paper the consideration of the controversial Electronic Transaction Levy (E-levy).

According to the Tamale South MP, E-levy was not enlisted in Parliament’s business statement for this week.

He questioned why the Majority will pull such a surprise on the opposition National Democratic Congress (NDC) legislators.

But Deputy Finance Minister, Abena Osei-Asare, urged Members of Parliament to join hands in passing the Electronic Transaction Levy (E-Levy) Bill to enhance the country’s economic recovery process.

According to her, Ghanaians have already accepted the tax revenue measure and expect its passage.

This, she stated, will help address domestic challenges derailing growth of the local economy, a development which has led to a high cost of living in the country.

But after a 30-minute break, the Minority Leader announced that his side will have nothing to do with the Bill.

He maintained that the outcome will bring untold hardship to the populace. On that note, he led the NDC MPs to vacate the chamber.

After this development, the House, despite the Minority’s absence embarked on a speedy consideration and effected a few changes in the Bill following which the motion was moved to accept it.

In a voice vote, the Minority sided Parliament admitted the E-Levy Bill.

Speaker, Alban Bagbin therefore ruled, “Honourable members, the Electronic Transfer Levy Bill 2021 duly read the third time and passed.”

Source: myjoyonline
Tags: E-Levy billGhana Revenue Authority (GRA)President Akufo-Addo assents to E-levy Bill
No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.