channel247online
Parliament yesterday passed the Electronic Transfer Levy (Repeal) Bill, 2025, effectively abolishing the Electronic Transfer Levy (E-Levy) that was introduced in 2022.
This follows the presentation of a report by the Chairman of the Finance Committee, Isaac Adongo, which recommended the repeal of the tax.
On March 11, 2025, the Minister of Finance,Dr Cassiel Ato Forson, announced the government’s intention to repeal the E-Levy, fulfilling a campaign promise aimed at easing financial pressures on Ghanaians.
Subsequently, on March 13, 2025, Dr Forson presented the Electronic Transfer Levy (Repeal) Bill, 2025, along with seven other bills to Parliament.
These bills sought to abolish certain taxes deemed burdensome, including the E-Levy, the 10 per cent withholding tax on betting winnings and the Emissions Levy.
Parliament also passed the Income Tax (Amendment) Bill, 2025 to abolish Betting Tax, taxes on Gaming and Lotteries, and repeal 1.5 per cent withholding tax on unprocessed gold.
During the parliamentary debate yesterday, the Majority Leader, Mahama Ayariga, emphasised that repealing the E-Levy would result in approximately GH¢2 billion remaining in the hands of citizens annually, enhancing disposable income and stimulating economic activities.
“Mr Speaker, the report indicates that if we pass the Electronic Transfer Levy (Repeal) Bill, individuals and households will have more disposable income. This is because they would no longer lose money through the deductions imposed by the tax,” he said.
He said repealing the tax meant individuals would retain the funds previously deducted, thereby increasing their disposable income.
That, he said, aligned with the assertion that eliminating the levy would leave more money in the hands of citizens.
“Mr Speaker, this policy decision is guided by the objective of enhancing the financial well-being of our citizens. I, therefore, support the passage of this bill,” Mr Ayariga said.
The Member of Parliament (MP) for Nhyiaeso, Dr Stephen Amoah, supported the repeal but cautioned that such decisions should consider the country’s fiscal position and overall economic impact.
While there were signs of economic recovery, he said, the fiscal space had not yet reached a point where an expedited repeal was prudent.
“I only advise that in doing some of these things, the rationale and the reasons should be such that our fiscal space and our economy as a whole will be accorded the needed decision that will rather augur well for the good people of this country,” he said.
The MP for Abetifi, Dr Brian Acheampong, also backed the repeal but questioned the rationale provided.
He argued that if the goal was to increase disposable income, other taxes with higher rates, such as the Value Added Tax (VAT), should also be considered for repeal.
source: graphic.com.gh
