Parliament has formally ratified the Electronic Transfer Levy Repeal Bill 2025, thereby eliminating the contentious E-Levy that previously taxed electronic financial transactions in Ghana.
Initially set at 1.75% and later adjusted to 1%, the E-Levy imposed taxes on various electronic transactions, such as mobile money payments, bank transfers, and incoming remittances.
Introduced in 2022, the levy encountered substantial opposition from the public and numerous stakeholders, who contended that it imposed an extra financial strain on citizens and deterred digital transactions.
During discussions in Parliament regarding the repeal bill, Deputy Finance Minister Thomas Nyarko Ampem emphasized the financial relief this decision offers to Ghanaians. He noted that the repeal of the E-Levy would effectively return GH¢2 billion to the populace, alleviating financial burdens and enhancing living standards.
The repeal of the E-Levy is in line with the government’s initiatives to foster financial inclusion and promote the use of digital payment systems without imposing additional fees on users.
Numerous business owners, mobile money agents, and financial analysts had previously voiced their concerns about the levy, highlighting its adverse effects on digital transactions and financial accessibility.
With the approval of the Electronic Transfer Levy (Repeal) Bill 2025, it is anticipated that Ghana’s financial sector will experience a surge in electronic transactions, thereby stimulating digital commerce and contributing to economic growth.
