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Business News Tue, 29 Mar 2022

E-Levy passed by Majority caucus in Parliament

The Electronic Transfer Levy has been passed by the Majority Caucus of Parliament after a voice note on March 29, 2022.

This comes after the House considered the bill after its third reading, with the Speaker of Parliament, Alban Bagbin, in the seat.

Prior to the passage of the Bill, the Minority caucus in Parliament staged a walkout right before the question was put before the house.

On Tuesday March 29, 2022, Minister for Finance, Ken Ofori-Atta, moved a motion in parliament asking the house to approve the second reading of the reviewed 1.5% E-Levy bill to advance its passing into law.

The government had struggled to pass the key legislation which has courted controversy since its announcement in November last year.

The Levy, seeks to impose a 1.5 percent charge on all electronic transactions covering mobile money, banks transfers, ATM withdrawals and others.

Parliament has since been at an impasse over the E-Levy with key lawmakers, civil society organisations, and a cross-section of the public opposed against the tax measure.

Despite stiff opposition to the Bill, Government insists the tax measure is necessary to fill revenue gaps and address the country's revenue generation constraints.
Source: www.ghanaweb.com
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