Parliament abolishes E-Levy

Parliament has passed the Electronic Transfer Levy (Repeal) Bill 2025, officially scrapping the controversial E-Levy.

The levy, which was initially set at 1.75% before being reduced to 1%, taxed electronic transactions, including mobile money payments, bank transfers, and inward remittances.

During the debate on the repeal, Deputy Finance Minister Thomas Nyarko Ampem stated that removing the levy would provide financial relief to Ghanaians, injecting GH¢2 billion back into the economy.

Although the E-Levy was introduced in 2022 to boost government revenue, it faced widespread opposition from businesses, financial institutions, and the public, who argued that it discouraged digital transactions and placed an undue burden on low-income earners.

The NDC government, as part of its 2024 election campaign, had promised to repeal the tax within 120 days of assuming office—a pledge that has now been fulfilled.