Under a certificate of urgency, Finance Minister Dr. Cassiel Ato Forson is scheduled to introduce a bill to Parliament today, Wednesday, March 12, 2025. This bill aims to eliminate a number of charges, such as the betting tax and the Electronic Transfer Levy (E-Levy).
In an interview on JoyNews PM Express on Tuesday, Dr. Forson said the measure, which also seeks to repeal the COVID-19 Levy, will be sent for expedited consideration. “Tomorrow morning, I will be going to Parliament to present the bills, and I expect them to be processed under a certificate of urgency,” he said.
Dr. Forson highlighted the simplicity of the repeal process: “Each tax repeal will consist of just one clause. The repeal of the betting tax is straightforward, and the E-Levy along with the other taxes we are addressing are also quite easy to repeal,” he explained.
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He noted that these proposed reforms are deemed urgent according to Ghana’s Constitution due to their classification as tax measures. “This is a revenue bill, and the Constitution provides a framework for introducing finance bills under a certificate of urgency,” he added.
Expressing confidence in a prompt response from Parliament, Dr. Forson remarked, “I assure you that I will fulfill my part tomorrow by submitting it to Parliament, and given the urgency involved, I am hopeful that Parliament will navigate through the various stages and approve it.”
He also confirmed full support from the Majority caucus: “We have 100% backing from the NDC Majority caucus.” Furthermore, he assured the public that President John Mahama would quickly sign the bill into law once it passes through Parliament.
Overview of the Electronic Transfer Levy (E-Levy) and Betting Tax
The E-Levy imposes a 1.5% charge on all electronic money transfers, excluding those specifically exempted by law. This levy applies to transactions conducted by mobile money providers (such as MTN Momo, Vodafone Cash, AirtelTigo Money, Zeepay, and GCB G-Money), payment service providers (PSPs), banks, and other financial institutions as outlined in regulations. It is applicable to various types of transfers, including mobile money transactions between wallets of the same issuer, transfers between different issuers, bank-to-mobile money wallet transfers, mobile money wallet-to-bank transfers, and bank transfers made through instant pay digital platforms originating from personal bank accounts.
The betting tax is set at 10% on winnings from betting and lottery activities. This tax is automatically deducted at the time of payout for all betting, gaming, and lottery winnings. However, if a game is canceled and the player’s original stake is refunded or if the payout equals or is less than the staked amount, the withholding tax will not apply.
