E-Levy Repeal Bill: Prez Mahama Expected to Give Assent Today, Implementation to Kickstart Next Week Friday
President John Mahama is expected to assent to the Electronic Transfer Levy (E-Levy) repeal bill today, March 27, according to Deputy Finance Minister Thomas Nyarko Ampem. The move is set to end the contentious tax on digital transactions, introduced in 2022 by the previous New Patriotic Party (NPP) administration.
Speaking on JoyNews’ PM Express on Wednesday, March 26, Mr Ampem stated that while Parliament has passed the bill, it has yet to be formally transmitted to the President for approval.
“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 a number of 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 explained.
He assured that upon presidential assent, the Finance Ministry will immediately instruct the Ghana Revenue Authority (GRA) to cease collection of the 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,” he noted.
Mr Ampem added that the GRA is prepared for the transition and that implementation will be immediate.
“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 welcomed by businesses and consumers, who have consistently opposed the tax, arguing that it stifled digital payments and financial inclusion. The levy imposed a 1.5% charge on electronic transactions, including mobile money transfers and bank transactions.
Commenting on the timeline for full repeal, Mr Ampem expressed confidence that it will take effect before the end of the month.
“I’m sure it will take effect before next week Friday,” he said.
