Finance Minister Dr Cassiel Ato Forson has reacted to the abolition of key taxes, including the Electronic Transfer Levy (E-Levy) and betting tax, with a brief but emphatic statement.
In a post on X on Wednesday, April 2, he simply wrote, “It is finished,” signaling the completion of the legislative process to repeal the controversial levies.
President John Dramani Mahama fulfilled a major campaign promise by signing into law a set of amended bills that abolish the betting tax, E-Levy, emissions tax, and other levies earlier today.
President Mahama signs bills to abolish E-Levy, Betting Tax, and Emissions Tax
The signing, which took place in his office, marks a significant milestone in his administration’s bid to ease the financial burden on Ghanaians and foster economic growth.
The removal of these taxes was a core pledge in the National Democratic Congress (NDC)’s manifesto, aimed at reducing the cost of living and encouraging business expansion.
The E-Levy, introduced in 2022 by the previous New Patriotic Party (NPP) administration, imposed a 1.5% tax on electronic transactions, including mobile money transfers, bank transfers, and online payments.
It was widely criticised by the public and business community, who argued that it stifled digital transactions and placed an unnecessary burden on citizens.
Parliament officially passed the bill to repeal the levy on Wednesday, March 26, paving the way for its removal.
The decision to scrap these taxes has been met with widespread approval, with many Ghanaians celebrating the move as a step towards financial relief.
Supporters of the repeal argue that eliminating these levies will promote digital transactions, stimulate economic activity, and improve disposable income for households and businesses.
