Parliament passes E-Levy under certificate of urgency. E-Levy rate revised to 1.50%
E-Levy to fill revenue gaps – Government
Today’s latest news sighted on Ghana Web indicates that the E-Levy deductions to start in May — according to the Minister of Finance, Ken Ofori-Atta.
Minister of Finance, Ken Ofori-Atta, has hinted that the implementation of the Electronic Transfer Levy will start at the beginning of May this year.
According to a 3news report, Ken Ofori-Atta said the Ghana Revenue Authority and the Controller and Accountant General Department will be the revenue collectors of this levy.
“We had some meetings with Controller and Accountant Generals Department (CAGD) and the Ghana Revenue Authority (GRA) and they have said right at the beginning of May [2022] they should be able to put their system together,” Ken Ofori-Atta is qouted to have this in Parliament after the president delivered his State of the Nation Address.
The E-Levy was on Tuesday [March 29, 2022] passed by Parliament under a certificate of urgency. The House, prior to the passage, adopted a revised rate of 1.5 percent for the Electronic Transfer Levy from an initial 1.75 percent proposed by government.
This was after Minister for Finance, Ken Ofori-Atta, moved a motion in parliament asking the house to approve the second reading of the reviewed 1.5 percent E-Levy bill to advance the passage following its consideration.
Ken Ofori-Atta argued that the levy when assented into law seeks to raise about GH¢6.9 billion in 2022 which will serve as a key mechanism that ensures Ghanaians contribute their fair share toward development.
The passage of the levy however did not make headway without controversy as the Minority in Parliament staged a walkout citing their refusal to be associated with what they say is a regressive policy that will erode gains made towards a cashless economy and place more burden on citizens.
The E-levy when assented into law will cover all electronic transfers including mobile money, ATM withdrawals, bank transfers among others.
The levy will apply the 1.5 percent charge on all electronic transactions that are more than GH¢100 on a daily basis.