Parliament approves reduction of E-levy rate

Parliament of Ghana

Parliament approves reduction of E-levy rate by 1 percent following the amendment of the Electronic Transaction Levy (E-levy) Act on Wednesday, December 21, 2022.

The proposal to reduce the e-levy rate from 1.5 percent to 1 percent was made public in the 2023 budget by Finance Minister Ken Ofori-Atta.

“……….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,” Ofori-Atta read from the budget statement.

Ranking Member on Finance Committee, Dr. Cassiel Ato Forson had something to say on the floor of the House.

“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.”

In a another development related to parliament approving the reduction of the E-levy rate, the Minority could not muster the necessary support to win the voting called, despite fierce resistance to the 2.5 percent increase in the Value Added Tax (VAT) as stated in the 2023 budget statement.

With 136 votes to the Minority’s 135, the Majority prevailed.

“I do not believe that this is the time to introduce a VAT, a tax that seems to take away additional disposable income,” Ranking Member on Finance Committee, Dr. Cassiel Ato Forson warned.

See also  No more tolls on all public roads – Finance Minister

WhatsApp Job & Scholarship Alert

  1. To get daily Job and Scholarship Alerts on Whatsapp, Join Our WhatsApp Group via the link below.

NOTE: PLEASE IF YOU’RE ON ANY OF OUR WHATSAPP GROUPS, DON’T JOIN THIS ONE

CLICK HERE TO JOIN WHATSAPP GROUP

 

Take Note

UNDER NO CIRCUMSTANCE SHOULD AN APPLICANT PAY MONEY TO ANYONE IN GETTING A JOB WE HAVE PUBLISHED 

LEAVE A REPLY

Please enter your comment!
Please enter your name here