Finance analyst Joe Jackson has extolled the government for taking adequate steps to scrap the controversial Electronic Transaction Levy (E-Levy).
He says the move would be welcomed by many Ghanaians who felt the levy was nuisance and stifled growth, thereby generating a general consensus that it be removed.
Speaking on Ghana Tonight on TV3 Wednesday, March 26, 2025, the Mr. Jackson was of the belief that “at this moment Ghanaians will be pleased, Ghanaians will be rejoicing” over “the vilified, hated E-levy” which “is almost out.”
The Chief Executive Officer (CEO) of Dalex Finance, says “the betting tax [is also] on its way out”, an initiative he has lauded the government for.
“It’s good to do that,” he stated, adding that the scrapping of those levies were promised by the government which is being fulfilled in a way to relieve Ghanaians of the nuisances levies.
“I suppose we can’t complain that there was a promise made in a manifesto, there was general agreement that E-levy should go and it’s gone,” he said.
His comments come on the back of Parliaments approval of the Electronic Transaction Levy (Repeal) 2025 which abolishes some taxes promised by the government to be scrapped.
According to the Finance analyst, the government’s quick move to implement the other taxes to fill in the revenue shortfalls that would be created by the scrapping of the other taxes is a worthy move worth applauding.
“The other taxes that are being juggled in order to fill in the gap –the e-fund reduction and growth and sustainability tax on mining companies –is also almost passed so one can say that things are looking better,” he added.
He, however, indicated that what would make the real impact on businesses would be the simplification and reduction of the Value Added Tax (VAT) which he says could only be done after a technical review by the International Monetary Fund.
Parliament on Wednesday, March 26, 2025, passed a bill to abolish the controversial Electronic Transfer Levy (E-Levy).
The move to abolish the tax has been widely welcomed by many Ghanaians. The bill is yet to be presented to President Mahama for assent.
The E-Levy was introduced in 2022 by the previous NPP administration. It was designed to impose a 1.5% tax on electronic transactions such as mobile money transfers, bank transfers, and online payments.
While others argued that the levy would help generate revenue for infrastructural development, it faced significant opposition from the public, businesses, and political figures who expressed concerns about its impact on digital transactions and the economy.
Since its introduction, there have been protests and public outcry, with critics arguing that it disproportionately affected low-income earners and the section of the population without bank accounts.
