Ghana's Parliament approved the Electronic Transfer Levy (Repeal) Bill 2025

Ghana's Parliament approved the Electronic Transfer Levy (Repeal) Bill 2025, effectively abolishing the controversial E-Levy that taxed electronic financial transactions. ​

Introduced in 2022, the E-Levy initially imposed a 1.75% tax on electronic transactions, later revised to 1%. It applied to mobile money payments, bank transfers, and inward remittances. The levy faced significant opposition from the public and various stakeholders, who argued it placed an additional financial burden on citizens and discouraged digital transactions. ​

During parliamentary debates on the repeal bill, Deputy Finance Minister Thomas Nyarko Ampem highlighted the financial relief the move brings to Ghanaians. He stated that abolishing the E-Levy would effectively return GH¢2 billion to the people, helping to ease financial pressures and improve livelihoods. ​

The repeal aligns with the government's efforts to promote financial inclusion and encourage the use of digital payment platforms without imposing additional costs on users. Many business owners, mobile money agents, and financial analysts had previously criticized the levy, citing its negative impact on digital transactions and financial accessibility. ​

With the passage of the Electronic Transfer Levy (Repeal) Bill 2025, Ghana's financial sector is expected to witness increased electronic transactions, boosting digital commerce and economic growth. The bill now awaits President John Mahama's assent to become law. ​

The abolition of the E-Levy marks a significant policy shift in Ghana's approach to digital taxation and reflects the government's responsiveness to public sentiment regarding financial policies.

SOURCE: AGENCIES