I will abolish e-levy as President – Bawumia declares
The Vice President, Dr. Mahamudu Bawumia, has stated categorically that he will abolish the tax on electronic financial transactions, e-levy, if elected President of Ghana.
Delivering his first major address to the nation after he was elected NPP flagbearer, during which he gave broad policy outlines of a Bawumia Presidency, Dr. Bawumia minced no words in declaring his opposition to taxes on electronic financial transactions, declaring that he would abolish e-levy as President.
Dr Bawumia added that his bid for a Digital and Cashless Ghana will be significantly boosted if e-levy is abolished.
“To move towards a cashless economy, however, we have to encourage the population to use electronic channels of payment.
To accomplish this, there will be no taxes on digital payments under my administration. The e-levy will, therefore, be abolished,” he declared.
Dr. Bawumia also announced that as part of a new tax regime by his government, he will abolish the emission tax, tax on betting as well as the proposed 15% VAT on electricity tariffs, if it is in existence by January 2025.
He also announced that his government would introduce what he described as a friendly, flat tax regime for Ghana, which will boost individuals and businesses, particularly small and medium-scale enterprises (SMEs).
“My administration will introduce a very simple, citizen and business-friendly flat tax regime.
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A flat tax of a % of income for individuals and SMEs, which constitute 98% of all businesses in Ghana, with appropriate exemption thresholds set to protect the poor,” Dr. Bawumia indicated.