President Akufo-Addo assents E-levy bill, after passage on Tuesday

President Nana Akufo-Addo has signed the Electronic Transfer Levy Bill into law, following its passage by Parliament on Tuesday, March 29, 2022.

Information Minister, Kojo Oppong Nkrumah is reported to have confirmed that the President signed the bill, today, March 31, 2022.

Now passed into law, the E-levy will see implementation soon, possibly in May, as Finance Minister Ken Ofori Atta is reported to have said.

Introduced as a new tax measure in the 2022  budget, the E-levy is expected to affect all electronic transactions, that are more than GH¢100 per day, at a rate of 1.5 per cent. 

Mr. Ken Ofori Atta has consistently maintained that the move will increase the country’s tax-to-GDP from 13% to a targeted 16% or more. It is also expected to generate about GH¢6 billion in tax revenue for the country.

But many have raised concerns, indicating that the tax risks derailing the government's efforts at financial inclusion. 

The Minority leader in Parliament, Haruna Iddrisu, and 2 other Minority MPs, Mahama Ayariga and Samuel Okudzeto Ablakwa have however filed a suit at the Supreme, challenging its passage.

The Minority Caucus of the House walked out during the consideration of the bill in Parliament.

In their suit at the Supreme Court, they state that Parliament lacked the required quorum to vote on the motion before the House contrary to Article 104(1) OF Constitution, 1992 and on the authority of the case, Justice Abdulai v. Attorney General.

They are therefore seeking an inter alia, a declaration that the purported vote on the motion for the second reading of the Electronic Transfer Levy Bill, 2021 by the 136 Majority MPs is in contravention of Article 104(1) thus unconstitutional, null, void and of no effect.