In a bold declaration, Mahamudu Bawumia, the New Patriotic Party’s flag bearer, has pledged to abolish the controversial e-levy, a tax on electronic financial transactions, if he ascends to the presidency of Ghana.
During his inaugural address as the NPP flag bearer, Dr. Bawumia vehemently opposed taxes on electronic transactions, emphasizing his unwavering commitment to eliminating the e-levy. He underscored how this levy poses a barrier to his vision of fostering a Digital and Cashless Ghana.
“To transition to a cashless economy, we need to encourage the use of electronic payment channels. To facilitate this, there will be no taxes on digital payments under my administration. Therefore, the e-levy will be abolished,” stated Dr. Bawumia emphatically.
In addition to scrapping the e-levy, Dr. Bawumia outlined his government’s ambitious plans to overhaul the tax system. This comprehensive reform includes the elimination of other burdensome taxes such as the emission tax, betting tax, and the proposed 15% VAT on electricity tariffs, with a targeted implementation by January 2025.
Furthermore, Dr. Bawumia introduced plans for a simplified and business-friendly flat tax regime. Geared towards supporting citizens and businesses alike, with a particular focus on aiding small and medium-scale enterprises (SMEs), this initiative aims to streamline the tax process and stimulate economic growth.
Dr. Bawumia’s resolute stance against the e-levy and his commitment to tax reform reflect a strategic vision for Ghana’s economic future. If elected president, these bold policies hold the promise of fostering a more conducive environment for digital innovation, economic prosperity, and sustainable development in Ghana.
