Parliament has passed a Bill to abolish the Electronic Transfer Levy (E-Levy), a move aimed to bring substantial relief to citizens.
Introduced in 2022 under the Akufo-Addo administration at 1.75% and later revised to 1%, the levy imposed taxes on electronic transactions including mobile money payments, bank transfers, and inward remittances.
It however, faced significant opposition for placing an extra financial burden on citizens and discouraging digital commerce.
Deputy Finance Minister Thomas Nyarko Ampem, noted that scrapping the E-Levy will return GH¢2 billion to the people, aligning with the government’s commitment to enhance financial inclusion and promote digital transactions without additional costs.
With Parliamentary approval secured, the Electronic Transfer Levy (Repeal) Bill, 2025 will now be forwarded to President John Dramani Mahama for assent.
Under Article 106(7) of the Constitution, the President is expected to sign the Bill into law within seven days.
