The contentious E-Levy, which once levied taxes on electronic financial transactions in Ghana, has been formally repealed by Parliament with the passage of the Electronic Transfer Levy Repeal Bill 2025.
The E-Levy levied taxes on electronic transactions, such as bank transfers, inward remittances, and mobile money payments. It was first implemented at 1.75% and later changed to 1%.
The levy, which was implemented in 2022, was strongly opposed by the general public and other stakeholders who claimed that it hindered digital transactions and added to the financial burden on citizens.
Thomas Nyarko Ampem, the deputy finance minister, emphasized the financial assistance that the repeal bill provides to Ghanaians during parliamentary discussions. According to him, the people will essentially receive GH¢2 billion back as a result of the E-Levy’s repeal, which will lessen financial strain and enhance living standards.
The government’s initiatives to advance financial inclusion and encourage the use of digital payment platforms without adding to user fees are in line with the repeal of the E-Levy.
The levy has previously drawn criticism from a number of business owners, mobile money agents, and financial analysts who pointed to its effects on digital transactions and financial accessibility.
Ghana’s financial industry is anticipated to see a rise in electronic transactions with the enactment of the Electronic Transfer Levy (Repeal) Bill 2025, which will support digital commerce and economic expansion.
Source: newsthemegh.com