Ghanaians are on the verge of relief as the Deputy Finance Minister, Thomas Nyarko Ampem, has confirmed that President John Mahama is expected to assent to the Electronic Transfer Levy (E-Levy) repeal bill by Thursday, March 27.
Speaking on JoyNews’ PM Express on Wednesday, March 26, Mr. Ampem revealed that although Parliament has passed the bill, it has not yet been transmitted to the President for his signature due to procedural delays.
“Parliament is still in session, and I doubt the Clerk has transmitted the bill to the President yet. Several other bills are being considered. So, if this is completed, it will likely be tomorrow or the day after,” Mr. Ampem explained.
Once the President signs the bill into law, the Finance Ministry will immediately instruct the Ghana Revenue Authority (GRA) to halt the collection of the E-Levy.
“I understand the President may be out of town tomorrow, so, all things being equal, by Wednesday, he will assent to the bill. Once that happens, the Finance Ministry will issue directives for the GRA to stop collecting the levy. It’s going to happen swiftly,” he assured.
According to Mr. Ampem, the Ghana Revenue Authority is fully prepared to transition as soon as the bill becomes law.
“My discussions with the Commissioner General indicate that as soon as the President assents, they will take immediate steps to comply,” he said.
The repeal of the E-Levy has been celebrated by many Ghanaians, who viewed the tax as burdensome and regressive.
Introduced in 2022 under the previous New Patriotic Party (NPP) administration, the E-Levy imposed a 1.5% tax on electronic transactions, including mobile money transfers, bank transfers, and online payments. Its implementation faced widespread public criticism and resistance.
The Deputy Finance Minister expressed confidence that the full repeal of the E-Levy will take effect before the end of March, offering hope to citizens eagerly awaiting its discontinuation.
“I’m sure it will take effect before next week Friday,” Mr. Ampem stated.
As the nation anticipates President Mahama’s final approval, the repeal marks a significant policy shift, reinforcing the government’s commitment to addressing public concerns and alleviating economic burdens.