The Minister of Finance, Dr. Cassiel Ato Forson, has announced that the government will scrap the controversial Electronic Transfer Levy, popularly known as the E-Levy.
According to Dr. Forson, abolishing the E-Levy, along with other taxes such as the Betting Tax, will help ease the financial burden on households and stimulate economic activities.
Presenting the 2025 Budget Statement in Parliament on Tuesday, March 11, 2025, the finance minister stated, “Mr. Speaker, we will abolish the Electronic Transfer Levy (E-Levy) of 1%.”
Prior to the budget presentation, Dr. Forson had argued that the E-Levy discourages digital transactions and hinders the country’s progress toward a cashless economy, while the Betting Tax generates minimal revenue.
Introduced in 2022, the E-Levy faced strong public opposition, with critics claiming it added to the financial burden of Ghanaians.
However, the government defended it as a necessary measure to generate revenue for national development.
SA/AE
Watch the livestreaming of the 2025 budget below: