Presidential candidate of the New Patriotic Party, Dr. Mahamudu Bawumia, has assured Ghaians that his administration will abolish the tax on electronic financial transactions popularly known as e-levy, if elected President of Ghana.
He declared this when he presented his vision and priorities on Wednesday, February 7, 2024.
According to him, he was opposed to taxes on electronic financial transactions, declaring that he would abolish e-levy as President.
This move he noted is part of efforts to move Ghana to a Digital and Cashless society.
“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 has announced plans to abolish emission tax, betting tax, and proposed 15% VAT on electricity tariffs as part of a new tax regime in Ghana.
He also plans to introduce a friendly, flat tax regime, aiming to boost individuals and businesses, especially small and medium-scale enterprises (SMEs).
“My administration will introduce a very simple, citizen and business-friendly flat tax regime. 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.
By: Rainbowradioonline.com/Ghana