Finance Minister-designate, Dr Cassiel Ato Forson, has repeated his obligation to abrogating the Electronic Transactions Levy (E-Levy) close by other irritation charges, lining up with President John Mahama’s 120-day campaign promise
Dr Forson contends that the E-Levy threatens Ghana’s advancement toward cashless system. The levy presented in 2022, forced a 1.5% charge on electronic transactions surpassing GH₵100 everyday. Albeit later diminished to 1%, it remains broadly condemned as backward and difficult for Ghanaians.
During his verifying on Monday, 13 January, Dr Forson solidly expressed his unaltered position, promising the assessment’s cancelation in the primary spending plan introduced by the new administration . He said:
The E-Levy is neither a direct tax, indirect tax, nor an excise tax. I don’t know how to classify the E-Levy as a tax practitioner. Mr Chairman, it doesn’t mean I don’t recognise that the E-Levy brings in certain revenue. But the fact remains that the E-Levy retards our progress toward a cash-light economy and fintech. We need to abolish the E-Levy.
I am on record saying that, given the opportunity to abolish the E-Levy, I would. I want to restate that position. If approved, as part of the first budget, I will announce that we will abolish the E-Levy. His Excellency President Mahama committed to this in our 120-day agenda, and we stand by it.
It shouldn’t generally be about income, income, income. Why not focus on consumption? Eliminate the E-Levy , don’t supplant it, and cut comparing consumption.
In a connected turn of events, Dr Forson likewise reaffirmed plans to scrap the 10% wagering charge.