Home | Goldstreet Business
Saturday, October 11, 2025
  • Home
  • General News
    • Extractives
    • Auto
  • Business
    • Banking and Finance
    • AgriBusiness
    • Insurance
    • Mining
    • Oil and Gas
    • Real Estate/Housing
  • News
    • Top Stories
    • Agriculture
    • Maritime/Aviation
    • Energy
    • Education
    • Construction
  • Technology
    • ICT
    • Telecom
  • World
    • Africa
    • International
  • Editorial/Features
  • GSB Data Services
No Result
View All Result
  • Home
  • General News
    • Extractives
    • Auto
  • Business
    • Banking and Finance
    • AgriBusiness
    • Insurance
    • Mining
    • Oil and Gas
    • Real Estate/Housing
  • News
    • Top Stories
    • Agriculture
    • Maritime/Aviation
    • Energy
    • Education
    • Construction
  • Technology
    • ICT
    • Telecom
  • World
    • Africa
    • International
  • Editorial/Features
  • GSB Data Services
No Result
View All Result
Gold Business Logo
No Result
View All Result
Home Business National

Akufo-Addo signs E-levy Bill into law

March 31, 2022
in National, Top Stories
0
Akufo-Addo signs E-levy Bill into law
Share on FacebookShare on Twitter

President Nana Akufo-Addo has signed the controversial Electronic Transfer Levy (E-Levy) Bill into law.

The final endorsement by the president comes barely two days after parliament passed the bill.

RELATED POSTS

Declare galamsey a public health emergency – Pharmacists urge gov’t

Poland scrambles jets as Ukraine says five killed in Russian strikes

It implies that the bill is likely to be operational by May 2022, as suggested by Finance Minister Ken Ofori-Atta without any major hurdle.

Mr Ofori-Atta said they had received assurances from the Controller and Accountant General and the Ghana Revenue Authority (GRA), who will be the revenue collectors for the new levy.

The bill was passed by a one-sided House after the Minority in Parliament staged a walkout on Tuesday, 29 March 2022.

This was after a heated debate after Finance Minister Ken Ofori-Atta moved a motion for the revised bill to be approved.

The Majority in Parliament fiercely defended the bill and pointed out the advantages of the E-levy in reviving the economy.

The Minority in Parliament also argued out reasons for the rejection of the bill which they said will culminate in hardships.

The NDC MPs were of the view that the new tax will not solve the economic challenges of the country.

They then walked out of the Chamber as the bill was adopted for consideration and amendment.

Among the revisions was the reduction of the bill from the initial 1.75% to 1.5%.

President Nana Akufo-Addo is now expected to assent to the bill to make it operational.

However, the Minority in Parliament has rejected that passage of the bill describing it as “null and void”.

Minority Leader Haruna Iddrisu said the House did not have voting quorum at the time the bill was read for the second and third stages.

Additionally, he said the House did not also have a voting quorum during the deliberations and considerations.

For him, “it was a charade” and “there is no E-levy”.

NDC MP for North Tongu, Samuel Okudzeto Ablakwa, who reacted in a Facebook post said:

“Going by the Supreme Court’s decision, the E-Levy has not been passed. What transpired today is a ridiculous nullity!”

“You thought we will give you the pleasure of returning to court for a declaration that the Assin North MP shouldn’t have been present in the Chamber to vote so that you can claim a 137-136 victory for the E-Levy.

“With our strategic walk out, you fall short of the required 138 quorum under article 104(1) of the 1992 Constitution and as affirmed by the Supreme Court in the recent Justice Abdulai case.

“There can be no contention about Hon. Adwoa Safo’s absence from today’s proceedings.

“Trust your NDC representatives, we have a conscience, and we know that the real power belongs to you,” he added.

What is the E-levy?

The E-levy is a tax applied on transactions made on electronic or digital platforms. The Minister for Finance announced in parliament the intention to implement the bill where 1.75% will be taxed on all digital transactions during the presentation of the 2022 budget.

The E-Levy is expected to generate an estimated amount of GH¢ 6,96 billion in 2022, GH¢7.89 billion in 2023, GH¢8.92 billion in 2024 and GH¢10.09 billion in 2025.

It is also one of the measures to increase the country’s tax to Gross Domestic Product (GDP) ratio from 13 per cent to 16 per cent.

According to Mr Ofori-Atta, the E-Levy will not be applicable for the following:

  • Cumulative transfers of GHC100 per day made by the same person.
  • Transfers between accounts owned by the same person.
  • Transfers for the payment of taxes, fees and charges on the Ghana.gov platform
  • Electronic clearing of cheques.
  • Specified merchant payments (that is, payments to commercial establishments registered with the GRA for income tax and VAT purposes).
  • Transfers between principal, master agent and agent’s accounts.

On the other hand, the E-Levy will be charged fully on the following:

  • Mobile money transfers between accounts on the same electronic money issuer (EMI).
  • Mobile money transfers from an account on one EMI to a recipient on another EMI.
  • Transfers from bank accounts to mobile money accounts.
  • Transfer from mobile money accounts to bank accounts.
  • Bank transfers on a digital platform or application which originate from a bank account belonging to an individual to another individual.

The levy had divided parliament, with the Majority pushing for approval, while the Minority kicked against it.

There was a split vote of 12 for each side at parliament’s finance committee until the chairman cast the decisive vote favouring the proposal.

Parliament degenerated into fisticuffs at a meeting to approve the levy, prompting an adjournment to 18 January 2022.

The chamber turned chaotic as MPs pushed, shoved and punched each other during the heated exchanges that many observers have since condemned.

This was after the Speaker of Parliament Alban Bagbin had left and delegated the First Deputy Speaker, Joe Osei Owusu, to take over proceedings.

The Minority had said it will do all it can to ensure that the bill does not see the light of day, insisting it was not in the best interest of Ghanaians.

Discussions on the proposed levy

Since the announcement by the minister in parliament last year, the tax has faced strong rejection with tax experts describing it as harsh, considering the economic situation in the country but the government insisted it would pass it.

The Ghana National Chamber of Commerce and Industry (GNCCI) called on the government to reconsider imposing a 1.75% levy on mobile money and other electronic transactions in the country.

The chamber maintained that the proposed levy would further worsen the plight of businesses, particularly small and medium enterprises (SMEs), which were mainly growth-driven and susceptible to economic and market cycles.

GNCCI said to increase revenue, the government should rather focus on finding innovative ways of widening the tax net, ensuring tax compliance, as well as addressing the rising levels of tax exemptions which did not commensurate with business growth.

Investment banking firm C-nergy Ghana Limited joined the chorus in admonishing the government to review the proposed Electronic Transaction Levy.

Even though C-nergy is not entirely opposed to the levy, they hold the opinion that “the 1.75% E-Transactions levy rate is high”.

Analysts from the firm are of the belief that the scope and coverage of the levy are wide enough to generate the targeted revenues “if it is monitored and managed effectively”.

Additionally, the Association of Mobile Money Agents had planned a strike and demonstration over the controversial e-levy proposition on  Thursday, 23 December 2021, but called it off.

For Speaker of Parliament Alban Bagbin, the approval of the E-levy will spell doom for the governing NPP in the 2024 elections.

“It is very clear that if this your E-Levy goes through, you (NPP) have lost the election,” he said during a speech at a meeting with former legislators on Thursday, 23 December 2021.

facebookShare on Facebook
TwitterTweet
Source: theghanareport
Tags: Akufo-AddoE-levyE-levy BillPresidential assent
ShareTweetShare

Related Posts

Declare galamsey a public health emergency – Pharmacists urge gov’t

Declare galamsey a public health emergency – Pharmacists urge gov’t

October 5, 2025
Poland scrambles jets as Ukraine says five killed in Russian strikes

Poland scrambles jets as Ukraine says five killed in Russian strikes

October 5, 2025
Gov’t commits GH¢46m to revive decade-long stalled KNUST Teaching Hospital

Gov’t commits GH¢46m to revive decade-long stalled KNUST Teaching Hospital

October 5, 2025
Government secures ¥3 billion JICA grant to transform Kumasi’s Inner Ring Road

Government secures ¥3 billion JICA grant to transform Kumasi’s Inner Ring Road

October 2, 2025
Ghana has laid the right foundation towards fiscal discipline post programme completion – IMF

Ghana has laid the right foundation towards fiscal discipline post programme completion – IMF

October 2, 2025
Next Post
BoG to sell $350m to dealers in quarter 2, 2022

BoG to sell $350m to dealers in quarter 2, 2022

Cedi records 18.21% depreciation to dollar in quarter 1; ranked among “Worst Spot Returns – Bloomberg

Cedi records 18.21% depreciation to dollar in quarter 1; ranked among “Worst Spot Returns – Bloomberg

Archives

<
October 2025
  • October 2025
  • September 2025
  • August 2025
  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • August 2024
  • July 2024
  • June 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
▼
>
MonTueWedThuFriSatSun
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
     12
3456789
10111213141516
17181920212223
2425262728  
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
   1234
567891011
12131415161718
19202122232425
262728293031 
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
   1234
567891011
12131415161718
19202122232425
26272829   
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
  12345
6789101112
13141516171819
20212223242526
2728     
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
 123456
78910111213
14151617181920
21222324252627
28      
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
1234567
891011121314
15161718192021
22232425262728
       
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
     12
3456789
10111213141516
17181920212223
242526272829 
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
    123
45678910
11121314151617
18192021222324
25262728   
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       

RECOMMENDED

Declare galamsey a public health emergency – Pharmacists urge gov’t

Declare galamsey a public health emergency – Pharmacists urge gov’t

October 5, 2025
Poland scrambles jets as Ukraine says five killed in Russian strikes

Poland scrambles jets as Ukraine says five killed in Russian strikes

October 5, 2025

MOST VIEWED

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
  • Energy
  • Health
  • Auto
  • International
  • Subscription Form
  • Staff Webmail
  • About Us
  • Contact Us
Call us: +233 24 432 0902 | info@goldstreetbusiness.com

© Copyright © 2020 goldstreetbusiness.com. All Rights Reserved.

No Result
View All Result
  • Homepages
    • Homepage Layout 1
    • Homepage Layout 2
  • World
  • Business
  • Technology
  • Health

© Copyright © 2020 goldstreetbusiness.com. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.