Bill to Abolish E-Levy and Betting Tax Set for Parliamentary Submission Today

In a major move aimed at easing financial burdens on citizens and businesses, Finance Minister Dr. Cassiel Ato Forson has announced that several taxes, including the controversial Electronic Transaction Levy (E-Levy) and the 10% tax on lottery winnings (betting tax), will be repealed.

Ghana Scraps E-Levy, Betting Tax & COVID-19 Levy – Major Tax Reliefs on the Way!

The bills for these tax repeals will be presented before Parliament on Wednesday, March 12, under a certificate of urgency, ensuring swift deliberation and approval.

Key Tax Cuts Announced:

• Electronic Transfer Levy (E-Levy): The 1% charge on digital transactions will be scrapped.

• Betting Tax: The 10% withholding tax on lottery and betting winnings will be removed.

• Emission Levy: Industries and vehicle owners will no longer pay this tax.

• VAT on Motor Vehicle Insurance Policies: Policyholders will see relief as this tax is abolished.

• 1.5% Withholding Tax on Unprocessed Gold: Small-scale miners will no longer be subject to this levy.

Speaking on Joy News on Tuesday, March 11, Dr. Forson emphasized that the repeal process would be straightforward, as each tax removal requires minimal amendments to existing laws.

“Repealing these taxes will be one clause each. Repealing the betting tax is very easy, the e-levy and all of those things we are repealing are quite simple,” he stated confidently.

He also assured that, upon parliamentary approval, President John Dramani Mahama will immediately sign the repeals into law.

Dr. Forson reiterated the urgency of these tax repeals, explaining that under the Constitution, revenue bills can be laid before Parliament under a certificate of urgency, expediting the approval process.

“I assure you that I will do my part and submit it to Parliament. Looking at the urgency involved, I’m hopeful that Parliament will take it through the various stages and approve it for us,” he affirmed.

The Finance Minister also confirmed that the National Democratic Congress (NDC) Majority Caucus fully supports the initiative, ensuring its smooth passage through the legislative process.

This move is expected to increase disposable income for households, stimulate business activity, and reduce financial constraints on small enterprises and individuals. With digital transactions, lottery winnings, and business operations becoming more affordable, Ghana’s economy is poised for a boost in financial inclusivity and growth.