1% E-levy Rate Cut Approved By Parliament (See Details)

The decrease of the e-levy rate by 1% has been authorized by Ghana’s parliament.

On Wednesday, December 21, 2022, the House gave its approval for the Electronic Transaction Levy (E-levy) Act modification.

In light of this, Dr. Cassiel Ato Forson, the Finance Committee’s ranking member, remarked on the House floor that:

“We in the Minority had indicated strongly that we do not believe that the GH₵100 threshold must be removed because of a number of reasons.

“They have listened and in presenting the e-levy bill clearly they have decided to remove what they had intended to exclude.

Mr. Speaker, it is important for us to commend them for at a minimum they have listened,” he added.

The proposal to lower the e-levy rate from 1.5 percent to 1 percent was made public in the 2023 budget presentation by Finance Minister Ken Ofori-Atta.

Meanwhile, he also proposed a plan to “increase the VAT rate by 2.5 percent to directly support our roads and digitalization agenda;  Fast-track the implementation of the Unified Property Rate Platform program in 2023.

And Review the E-Levy Act and more specifically, reduce the headline rate from 1.5% to one percent (1%) of the transaction value as well as the removal of the daily threshold.”

Conclusion

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