Former Minister of Food and Agriculture, Bryan Acheampong, has thrown his weight behind the repeal of the Electronic Transfer Levy (E-Levy), arguing it would increase disposable income for individuals and households. Apexnewsgh reports
The proposed repeal aims to alleviate the burden of deductions on electronic transactions, allowing Ghanaians to retain more money for essential expenses like school fees, housing projects, and family milestones.
Repealing the levy would result in a fiscal loss of approximately GH¢1.946 billion for the 2025 fiscal year. However, Acheampong believes this loss would translate into a gain of GH¢2 billion for the Ghanaian populace, effectively putting more money into citizens’ pockets annually.
Acheampong emphasized that the financial boost would have a lasting positive impact, stimulating economic growth, promoting digital transactions, and fostering a business-friendly environment. He urged his colleagues in Parliament to support the bill, stressing its importance in enhancing the quality of life for Ghanaians and encouraging participation in the digital economy.
As discussions on the repeal continue, stakeholders remain divided on balancing revenue generation with alleviating financial pressures on the public. The final decision by Parliament will have far-reaching implications for the economy and ordinary citizens.
This development comes amidst efforts to boost Ghana’s economy, including initiatives to promote the creative industry. For instance, renowned actor Idris Elba plans to establish film studios in Ghana and Tanzania, aiming to transform African narratives and promote local talent.
Source: Apexnewsgh.com
