Ghanaians will soon see the end of the controversial Electronic Levy (E-Levy), as Deputy Finance Minister Thomas Ampem Nyarko has confirmed its removal will take effect by the end of March.
Speaking on the OXFAM Tax Dialogue on Channel One TV, Nyarko stated that the E-Levy will be scrapped once Parliament finalizes the approval of the 2025 budget and appropriation.
“It will take effect the moment the budget and the appropriation is approved, and that will be by the 31st of this month. So, all things being equal, from April, you will see that all things will be done,” he assured.
The E-Levy, introduced in 2022 to tax mobile money and electronic transactions, has been widely criticized for its impact on digital payments and financial inclusion.
Its removal aligns with the government’s broader tax reforms aimed at easing the financial burden on citizens.
Beyond tax policy, Nyarko emphasized the need for a deeper review of Ghana’s investment climate. While Ghana’s stable political environment makes it attractive to foreign investors, he noted that other factors are deterring investment inflows.
“We as a country have not fully leveraged our good democratic credentials. A lot of foreign investors prefer Ghana because of our stable political environment, but somehow other factors are driving investors away,” he observed.
He called for a comprehensive analysis to address these challenges, urging stakeholders to engage in discussions on what Ghana “might not be doing right.”
With the E-Levy removal set to take effect soon, all eyes are on Parliament to finalize the process, marking a significant shift in Ghana’s digital financial landscape.