Parliament approves reduction of E-levy rate

Ghana’s Parliament has approved the reduction of the e-levy rate by 1 per cent.

The House approved the amendment to the Electronic Transaction Levy (E-levy) Act on Wednesday, December 21, 2022.

READ MORE: https://kastlefmonline.com/parliament-approves-appropriations-bill-for-2023/

“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,” Ranking Member on Finance Committee, Dr. Cassiel Ato Forson said on the floor of the House.

The Finance Minister Ken Ofori-Atta announced the proposal in the 2023 budget statement to reduce the e-levy rate from 1.5 per cent to 1 percent.

He also announced a proposal 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 programme 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.”

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Source: 3news.com