Vice-President Dr Mahamudu Bawumia, has stated categorically that he will abolish the tax on electronic financial transaction, E-Levy, if elected President of Ghana.
The controversial tax was introduced in 2022, and prior to the introduction, Vice-President Bawumia had declared his opposition to levies on electronic financial transaction in an interview.
Delivering his first major address to the nation after his election as the presidential candidate of the NPP, during which he gave broad policy outlines of a Bawumia Presidency, the vice-president minced no words in declaring his opposition to taxes on electronic financial transactions, declaring that he will abolish E-levy as president.
Dr Bawumia added that 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.
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.
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