President Nana Addo Dankwa Akufo-Addo has hailed the approval in Parliament of the controversial 1.5 percent Electronic Transfer Levy (E-levy).
The President stated in his State of the Nation Address (SONA) in Parliament on Wednesday, March 30, 2022, that the approval of the e-levy gives a chance for Ghana to revitalize its economy.
“Mr. Speaker, despite the protracted and sometimes acrimonious nature of proceedings, I am happy that the House has, finally, found it possible to pass the e-levy. I believe the levy is going to make a significant contribution to revenue mobilisation and the management of the economy, and I want to thank Members of the House for making this possible.”
President Akufo-Addo acknowledged the challenges Ghana is likely to face in rescuing the struggling economy.
He was, however, optimistic that the government’s recent actions would have favorable effects.
“The road to recovery will be hard and long, Mr. Speaker, but we have started on a good footing by accepting that we are in a difficult place, and are taking the difficult decisions that will get us out,” the President told the House.
On Tuesday, March 29, 2022, Parliament accepted the law after revising sections of it, despite a walkout by the Minority Caucus.
The Minority and several telecoms players have continuously opposed the approval of the E-levy, but the government has argued that it will address Ghana’s economic challenges.
During the second reading of the bill in Parliament on Tuesday, Minority Leader Haruna Iddrisu stated that his party will have nothing to do with the E-levy in any way.
The Minority then followed on their threat and staged a walkout, but this gave the Majority the upper hand to proceed with the bill’s second and third readings, which culminated in its passage.
The duty, which was reduced from 1.75 percent to 1.5 percent, would be levied on electronic transactions, including mobile money payments.
The charge will be applied to any electronic transactions that exceed GH100 on a daily basis.
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SOURCE: CITINEWS
