Akufo-Addo signs E-Levy into law

The President, Nana Akufo-Addo, has signed into law the Electronic Transfer Levy Bill also known as the E-levy.

This is happening barely two days after it was passed by parliament. This also means the E-Levy can now be implemented.

Parliament passed the bill on Tuesday, March 29, 2022, in the absence of the Minority legislators, who had walked out before the Bill was considered at the second reading stage.

Minister for Information, Kojo Oppong Nkrumah, confirmed the news to media in Accra on Thursday, March 31, 2022.

The E-Levy has now become a binding law which will be operationalised as a revenue measure across the country.

Meanwhile, the NDC Minority in Parliament filed a suit at the Supreme Court on Wednesday, March 30, to challenge the passage of the levy, insisting parliament did not have the numbers to pass it.

The Ghana Revenue Authority (GRA) has also already put in place structures to ensure mobilization of the E-Levy income.

According to the government the E-levy would widen the tax net and raise an extra GH¢6.9 billion in 2022.

There are also concerns that the government may securitize proceeds from the e-levy to raise extra revenue.

The E-levy was amended from 1.75 percent to 1.5 percent on Tuesday, March 29, 2022. It will be a tax on electronic transactions, which includes mobile-money payments.

The charge will apply to electronic transactions that are more than GH¢100 on a daily basis.

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