GAB hints at possible return of E-Levy amid growing digital economy

John Awuah Chief Executive Officer of the Ghana Association of Bankers (GAB). He recently hinted at the possible return of the Electronic Transaction Levy (E-Levy). This comes as digital financial systems grow worldwide.

Mr. Awuah noted that many economies are adopting digital platforms for transactions. As this happens, governments may reconsider policies like the E-Levy to increase revenue. He stated, “Digitalisation has taken over every economy in the world.”

He believes that the E-Levy might be relevant in the future. Traditional tax systems may not meet current revenue needs effectively.

The E-Levy was first introduced in 2022. It taxed electronic transactions, including mobile money transfers. However, it faced public backlash due to concerns about discouraging digital payments and harming financial inclusion. The government eventually suspended it amid ongoing resistance and policy review.

Mr. Awuah’s comments suggest a renewed discussion on innovative taxation methods like the E-Levy as Ghana's digital economy grows. He shared these insights during an interview with Kwasi Afriyie on Good Afternoon Ghana on Metro TV.