“E-Levy collection likely to end before next week Friday” – Deputy Finance Minister

The Deputy Finance Minister and Member of Parliament for Asuogyaman, Thomas Nyarko Ampem, has disclosed that the collection of the Electronic Transfer Levy (E-Levy) is likely to be halted before next week Friday.

According to him, President John Dramani Mahama is expected to assent to the E-Levy repeal bill today, March 27. The repeal marks a significant step in fulfilling the President’s campaign promise to scrap the tax, which has faced widespread opposition from the Ghanaian populace since its introduction.

Mr Ampem further noted that the GRA is already prepared for the transition, and implementation will take place swiftly after President Mahama’s approval.

“The GRA already is aware of this process and so my discussions with the Commissioner General is that as soon as the President assents, they will take steps to comply.

“The good news to all is that the e-levy that majority of Ghanaians vehemently oppose to is being repealed through to the words of President John Dramani Mahama. I’m sure it will take effect before next week Friday.

He further revealed that the savings the government will make from the tax refund account will be able to fill the void left by the E-Levy. He said, “It is sustainable because we have analyzed the tax refund account for over the past eight years. And we have realized that over the period, an average of 43% of the funds accrued into the account is what is used for tax refund purposes. The rest of it, in fact, 57% of it, is misapplied, and so we have taken a firm decision that we will not allow that chunk of money to be misapplied.”

“It will be re-backed into the consolidated fund for us to appropriate for the many things that Ghanaians need, and that is a huge amount in excess of 3.8 billion cedis,” he added.

Source: Elvisanokyenews.net