Ministerial Vetting: E-Levy Will Be Abolished Within 120 Days – Ato Forson Assures
Finance Minister-designate Dr. Cassiel Ato Forson has reiterated his pledge to abolish the contentious Electronic Transfer Levy (E-Levy). During his vetting on January 13, 2025, he affirmed that he would move to cancel the levy if approved.
He asserted that the E-Levy hinders the country’s development toward a cashless economy and should be abolished, even if he acknowledged its revenue contribution. He said, “I have written articles against the E-Levy, championed the opposition against it, and I still stand by them.” The E-Levy does not function as an exercise tax, direct tax, or indirect tax. I’m not sure how to categorize the E-Levy as a tax professional.
It doesn’t mean that I don’t recognize that the E-Levy brings in certain revenue but the fact remains that it retards our progress towards a cash-light economy in the fintech, we need to abolish the E-levy.” The Ajumako Enyan Esiam Member of Parliament further assured that, if approved as finance minister, his office would announce the cancellation of the E-Levy within the 120 days promised by President John Dramani Mahama’s government during their campaign. “I am on record to have said that given the opportunity we will abolish the E-Levy.
I want to restate that position that if approved, I will be privileged and I will announce that we will abolish the E-Levy as part of our first budget recognizing my earlier stance and the commitment that President Mahama said that as part of our 120 days agenda, we will abolish the E-Levy. We stand by that and I can assure you, the E-Levy will go within the 120 days calendar we have announced,” he assured.
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