The Vice President, Dr. Mahamudu Bawumia has stated that he will abolish the tax on electronic financial transaction also known as E-levy, if elected President of Ghana.
E-Levy was introduced in 2022 with huge disagreements from both sides in Parliament.
Addressing ministers, leadership of the NPP and party supporters at UPSA in Accra, Dr. Bawumia stated his opposition to taxes on electronic financial transactions adding that he will abolish e-levy as President.
The Vice President stated that in his bid for a Digital and Cashless Ghana, will be significantly boosted if e-levy is abolished.
“To move towards a cashless economy however, we have to encourage the population to use electronic channels payment. To accomplish this, there will be no taxes on digital payments under my administration. The e-levy will therefore, be abolished,” he declared.
Dr. Bawumia also announced that as part of a new tax regime by his government, he will also abolish the emission tax, tax on betting as well as the proposed 15% VAT on electricity tariffs, if it is in existence by January 2025.
He also announced that his government would introduce what he described as a friendly, flat tax regime for Ghana, which will boost individuals and businesses, particularly small and medium-scale enterprises (SME’s).
“My administration will introduce a very simple, citizen and business friendly flat tax regime. A flat tax of a % of income for individuals and SMEs, which constitute 98% of all businesses in Ghana, with appropriate exemption thresholds set to protect the poor,” Dr. Bawumia indicated.
Source: Ghana/Starrfm.com.gh/103.5FM
