Vice-President Dr. Mahamudu Bawumia has indicated unequivocally that if elected President of Ghana, he will repeal the tax on electronic financial transactions, E-Levy.
The contentious tax was implemented in 2022, and Vice-President Bawumia had previously expressed his objection to charges on electronic financial transactions in an interview.
Delivering his first major address to the nation since his election as the NPP’s presidential candidate, during which he laid out broad policy outlines for a Bawumia presidency, the vice-president made no bones about his opposition to taxes on electronic financial transactions, declaring that as president, he will abolish the E-levy.
Dr. Bawumia went on to say that abolishing the E-Levy will considerably help his campaign for a digitised and cashless Ghana.
“To move towards a cashless economy, however, we have to encourage the population to use electronic channels of 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 stated that his government would implement a friendly, flat tax policy for Ghana, which would benefit citizens and businesses, particularly small and medium-sized enterprises (SMEs).
“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.
