Vice President Dr. Mahamudu Bawumia has stated that he intends to eliminate the tax on electronic financial transactions, known as e-levy, if elected President of Ghana.
In his first major address to the nation following his election as New Patriotic Party (NPP) flagbearer, where he outlined the broad policy outlines of a Bawumia Presidency, Dr. Bawumia was forthright in his stance against taxes on electronic financial transactions, affirming his commitment to abolishing e-levy as President.
Dr. Bawumia emphasized that his vision for a Digital and Cashless Ghana would receive a significant boost with the abolition of e-levy.
“To transition to a cashless economy, we need to encourage the use of electronic payment channels. To facilitate this, there will be no taxes on digital payments under my administration. Therefore, the e-levy will be abolished,” he declared.
Dr. Bawumia also revealed plans for a new tax regime under his government, which would include the abolition of the emission tax, tax on betting, and the proposed 15% VAT on electricity tariffs, if implemented by January 2025.
Furthermore, he announced the introduction of a simplified, citizen- and business-friendly flat tax regime for Ghana, aimed at supporting individuals and businesses, particularly small and medium-scale enterprises (SMEs).
“My administration will implement a straightforward, citizen- and business-friendly flat tax regime. This will involve a flat tax percentage of income for individuals and SMEs, which represent 98% of all businesses in Ghana, with appropriate exemption thresholds to safeguard the poor,” Dr. Bawumia affirmed.
