Skip to main content

Parliament passes 1.5% E-levy amid Minority MPs walkout

 


Minority Members of Parliament staged a walk-out before the Electronic transfer Levy (E-Levy) Bill 2021 was passed on Tuesday (March 29, 2022) afternoon.

The Minority had complained that it had been taken by surprise by the consideration of the levy given that it was not listed in Parliament’s business statement for the week.

The Bill which was considered under a certificate of urgency was adopted at a reduced rate of 1.5% from the proposed 1.75%.

Walkout

The Minority MPs had walked out of Parliament before the second reading of the Bill after debating it.

Read also: Roads Minister instructed to reverse suspension of road tolls

As a result, proposed amendments in the name of some Minority MPs were removed because none of them was present to move the amendments in their name.

The Speaker of Parliament, Alban Bagbin, stated that he was surprised by the walkout of the Minority. He, however, indicated that it would not affect the course of proceedings.

Background

The Government of Ghana proposes to impose a 1.75% tax on all a variety of electronic transactions, including mobile money transfers exceeding GH¢100.

Minority Members of Parliament vowed to vote against the levy, while mobile money agents, who also oppose the levy, have planned to embark on a demonstration and suspend their services in protest against moves by Government to proceed with implementation.

Comments

Popular posts from this blog

Fitch Solutions retains 2025 growth rate projection at 4.2%

 Fitch Solutions has reaffirmed its projection that Ghana’s economy will expand by 4.2% in 2025. This estimate slightly exceeds the International Monetary Fund’s forecast of 4% and the World Bank’s projection of 3.9%. The UK-based research firm attributes its outlook to historically high gold prices, which are expected to cushion the Ghanaian economy against a global slowdown triggered by rising tariffs. Higher gold prices are anticipated to strengthen government revenue, enhance foreign exchange earnings, and help sustain currency stability. The report also highlights that Ghana is relatively less vulnerable to increasing trade restrictions from the United States, given that its primary exports—gold and crude oil—are not directly affected by the tariffs introduced by President Trump’s administration. Moreover, the US constitutes only about 4% to 5% of Ghana’s total exports. In contrast, Ghana’s trade relations are more heavily oriented toward China and European countries, particul...

BoG injects $20m into FX market to support 11 BDCs

  The Bank of Ghana (BoG) has injected $20 million into the foreign exchange market in the latest round of its forward FX auction targeted at Bulk Oil Distribution Companies (BDCs). The intervention, which benefited eleven BDCs, is part of the central bank’s broader strategy to stabilise the cedi and ensure price stability in the petroleum downstream sector. Held on Tuesday, April 29, the auction was priced at a locked exchange rate of GHS 14.28 to the US dollar, with bid offers ranging from GHS 13.85 to GHS 15.55. This move reflects the BoG’s continued effort to deepen forex liquidity and safeguard the domestic fuel supply chain against volatility in global energy markets. By directly supplying FX to BDCs, the central bank seeks to ease pressure on the interbank market, guarantee the uninterrupted flow of petroleum products, and mitigate the pass-through effects of exchange rate fluctuations on fuel prices. The $20 million disbursement forms part of a $120 million programme for th...

Kenpong Travel & Tours Champions Breast Cancer Awareness During Customer Week

  As part of activities to mark Customer Week, Kenpong Travel & Tours, a leading travel agency in Ghana, is joining the global fight against breast cancer. October is Breast Cancer Awareness Month, and the company is passionate about spreading hope and support to those affected. At Kenpong Travel & Tours, we believe that travel and exploration can be therapeutic and empowering. That's why we're committed to supporting our customers and the broader community in the fight against breast cancer. We're proud to stand in solidarity with breast cancer warriors and survivors. At Kenpong Travel & Tours, we believe that everyone deserves a chance to explore the world and create unforgettable memories. Let's prioritize health, support one another, and fight against breast cancer," said Kennedy Agyapong, CEO of Kenpong Travel & Tours. Our efforts are focused on raising awareness, promoting early detection, and supporting those affected by breast cancer. We urg...