President Akufo-Addo ascents E-levy bill into law
President Akufo-Addo has assented into law the controversial E-levy bill two days after its passage in Ghana’s legislature sparked some controversies. This indicates the full operation of the said levy.
Interestingly, the Minority after staging a walkout over the introduction of the levy has resorted to a legal tussle by filing a suit at the Supreme court challenging the passage of the levy, after claiming that at the particular time the bill was passed, Parliament had not formed a quorum to pass the bill.
On Tuesday, March 29, 2022, Parliament passed the bill despite the absence of the opposition lawmakers, who had walked out before the Bill was considered at the second reading stage.
The initial 1.75 per cent was now amended to 1.5 per cent on Tuesday, March 29, 2022, and will be a tax on electronic transactions, which includes mobile-money payments.
Charges regarding this levy will apply to electronic transactions that are more than GH¢100 daily.
Meanwhile, opposers to the levy have cautioned that this new levy will negatively impact the Fintech space as well as hurt low-income earners and those outside the formal banking sector.
