President Nana Addo Dankwa Akufo-Addo has expressed delight Parliament has finally passed the controversial Electronic Transaction Levy (E-levy).
According to him, despite the protracted and sometimes acrimonious nature of proceedings, he is happy the House has finally found it possible to pass the Elevy.
Delivering the State of the Nation Address (SONA) in Parliament on Wednesday, March 30, 2022, the President said passage of the e-levy presents an opportunity for Ghana to revive its economy.
He said, “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.
“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 stated.
The road to recovery, he said, will be hard and long but stressed the country has started on a good footing by accepting the economy is in a difficult place and is taking the difficult decisions that will get her out.
According to him, if anyone ever had any doubts about the need to be self-reliant, the point has now been forcibly drilled home and making the pursuit of the Ghana Beyond Aid agenda even more compelling now.
Parliament on Tuesday, March 29, 2022, approved the bill after amending portions of the tax policy document despite a walkout by the Minority Caucus.
The Minority and a number of stakeholders have consistently resisted the passage of the E-levy but the government has insisted that it will fix Ghana’s economic challenges.
The Minority Leader, Haruna Iddrisu, during the second reading in Parliament on Tuesday, noted his side will have nothing to do with E-levy in any form or shape.
The Minority subsequently carried out its threat and staged a walkout but the House continued with business and had the Bill read a second and third time resulting in the passage.
The rate was also amended from 1.75 per cent to 1.5 per cent and will be taxed on daily electronic transactions of more than GH¢100 including mobile-money payments.
