Ghanaians burdened by the controversial Electronic Levy (E-Levy) may soon see relief as Deputy Finance Minister Thomas Ampem Nyarko has confirmed its removal will take effect by the end of March 2025.
Speaking on the OXFAM Tax Dialogue on Channel One TV, Nyarko assured that the scrapping of the levy is contingent on the final approval of the 2025 budget and appropriation by Parliament.
“The moment the budget and the appropriation are approved, which will be by the 31st of this month, the E-Levy will be no more. All things being equal, from April, you will see its full removal,” he affirmed.
The E-Levy, introduced in 2022, faced significant public opposition, with critics arguing it placed an unnecessary financial strain on digital transactions. Its planned removal aligns with the government’s broader tax reforms aimed at easing the financial burden on citizens.
Beyond the tax changes, Nyarko emphasized the need for Ghana to strengthen its investment climate. He acknowledged that while the country’s democratic stability makes it an attractive destination for investors, other economic and policy-related barriers continue to deter foreign investments.
“Despite Ghana’s strong democratic reputation, we have yet to fully capitalize on it. Many investors prefer Ghana due to our stable political environment, yet certain unresolved challenges are pushing them away,” he noted.
Nyarko called for deeper discussions among stakeholders to identify and address these investment barriers, urging a re-evaluation of Ghana’s economic policies to foster a more investor-friendly climate.
