Parliament has maintained the GH¢100 threshold and approved the reduction of the Electronic Transfer Levy from 1.5 to 1 percent, effective 2023.
Debating the amendment of the Bill in Parliament, Ranking Member on the Finance Committee of Parliament, Dr. Cassiel Ato Forson said the Minority would now support the levy to help the government rake in an amount of GH¢2.2 billion for 2023.
“The value of GH¢100 from the time the levy was introduced till today has been eroded. So I don’t know why that threshold should be removed. Our position is that this levy should be removed completely. Since we haven’t been able to achieve that and the government has reduced it from 1.5 to one percent, we cannot be the same people to oppose it.”
The approval of the new e-levy bill and the threshold comes after Finance Minister, Ken Ofori-Atta during the presentation of the 2023 budget and business statement on the floor of Parliament on Thursday 24th, November 2022, indicated that individuals will pay an E-levy of 1% instead of the 1.5% beginning next year.
The reduction of the E-Levy resulted in the scrapping of the 100 Ghana Cedis daily threshold.
This means that individuals would now be charged 1% on any amount they send daily.
But the Minority Members of Parliament threatened not to support the passage of the bill.
The new e-levy bill approval will help the Government rake in GH¢2.2 billion for 2023.
E-levy was introduced by the government in the 2022 budget to help generate revenue for the country through electronic transaction.
