E-levy rate cut is approved by parliament.

The e-levy rate will drop by 1%, according to the Ghanaian Parliament.

On Wednesday, December 21, 2022, the House passed a change to the Electronic Transaction Levy (E-levy) Act.

“We in the Minority had made it very clear that we did not think the GH100 threshold ought to be eliminated for a variety of reasons.

“They have listened, and by plainly presenting the e-levy bill, they have chosen to include what they had originally intended to exclude. On the House floor, Dr. Cassiel Ato Forson, the ranking member of the finance committee, said, “Mr. Speaker, it is crucial for us to applaud them for at the very least they have listened.

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The Finance Minister Ken Ofori-Atta announced the proposal in the 2023 budget statement to reduce the e-levy rate from 1.5 per cent to 1 percent.

He also announced a proposal to “increase the VAT rate by 2.5 percent to directly support our roads and digitalization agenda;  Fast-track the implementation of the Unified Property Rate Platform programme in 2023; and Review the E-Levy Act and more specifically, reduce the headline rate from 1.5% to one percent (1%) of the transaction value as well as the removal of the daily threshold.”