The Vice President, Dr. Mahamudu Bawumia, has made it clear that he will do away with the electronic financial transaction tax, commonly known as e-levy, if he becomes the President of Ghana.
Delivering his first major address to the nation after being elected as the NPP flagbearer, Dr. Bawumia outlined his policy plans as a potential President, leaving no doubts about his stance on e-levy.
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Dr. Bawumia emphasized that the removal of taxes on digital payments would be a significant step towards his goal of a Digital and Cashless Ghana.
He declared, “To move towards a cashless economy, however, we have to encourage the population to use electronic channels for payment. To accomplish this, there will be no taxes on digital payments under my administration. The e-levy will therefore be abolished.”
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Furthermore, Dr. Bawumia revealed that his government’s new tax regime would include the abolishment of the emission tax, the tax on betting, and, if it is enacted by January 2025, the proposed 15% VAT on electricity tariffs.
To boost individuals and businesses, especially small and medium-scale enterprises (SMEs), the Vice President announced the introduction of a friendly and simplified flat tax regime for Ghana.
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He stated, “My administration will introduce a very simple, citizen and business-friendly flat tax regime. A flat tax of a percentage of income for individuals and SMEs, which constitute 98% of all businesses in Ghana, with appropriate exemption thresholds set to protect the poor.”
