President Nana Addo Dankwa Akufo-Addo has expressed delight in the passage of the Electronic Transaction Levy(E-levy).
The E-levy was seemingly a long shot for the government, however, a one-sided House managed to pass the bill on Tuesday with the minority staging a walkout.
Commenting on the development in Parliament during the presentation of the State of the Nation Address, the President said: “Mr. Speaker, despite the protracted and sometimes acrimonious nature of proceedings, I am happy that the House has, finally, found it possible to pass the E-levy Bill.
He added, “believe the levy is going to make a significant contribution to revenue mobilisation and the management of the national economy, and I want to thank Members of the House for making this possible.”
The Finance Minister earlier on the floor of Parliament on Tuesday, March 29, 2022, reduced the bill’s initial rate of 1.75% to 1.50%.
Meanwhile, the levy will be applied to mobile money payments, bank transfers, merchant payments, and inward remittances.
