Dr. Mahamudu Bawumia, the flagbearer of the New Patriotic Party, has made it clear that, should he be elected president of Ghana, he will do away with the so-called “e-levy,” a tax on electronic financial transactions.
Vice President Bawumia stated that he was against taxes on electronic financial transactions prior to the contentious tax’s 2022 introduction.
In his first significant speech to the public as an NPP flagbearer, Dr. Bawumia made it clear that he opposed taxes on electronic financial transactions and that, should elected president, he would do away with the e-levy.
Dr. Bawumia continued, saying that the elimination of the e-levy would greatly strengthen his campaign for a digital and cashless Ghana.
But in order to transition to a cashless economy, we must urge people to use electronic payment methods. Under my administration, there won’t be any taxes on digital payments in order to achieve this. Thus, the e-levy will be eliminated,” he said.
Dr. Bawumia further stated that he would do away with the emission tax, wagering tax, and betting tax as part of the new tax structure if his government’s proposed 15% VAT on electricity tariffs is put into effect by January 2025.
Furthermore, he announced that his government would create a flat, accommodating tax structure for Ghana, arguing that this would help all citizens and businesses, particularly small and medium-sized enterprises (SME’s).
“Under my administration, a flat tax regime that is easy on citizens and businesses will be implemented. SMEs, which make up 98% of all businesses in Ghana, should pay a flat tax of one percent of their income, according to Dr. Bawumia, with suitable exemption thresholds set to protect the underprivileged.
