Parliament approves reduction of E-levy rate

-

 



Ghana’s Parliament has approved the reduction of the e-levy rate by 1 per cent.

The House approved the amendment to the Electronic Transaction Levy (E-levy) Act on Wednesday, December 21, 2022.

“We in the Minority had indicated strongly that we do not believe that the GH₵100 threshold must be removed because of a number of reasons.

“They have listened and in presenting the e-levy bill clearly they have decided to remove what they had intended to exclude. Mr. Speaker, it is important for us to commend them for at a minimum they have listened,” Ranking Member on Finance Committee, Dr. Cassiel Ato Forson said on the floor of the House.

The Finance Minister Ken Ofori-Atta announced the proposal in the 2023 budget statement to reduce the e-levy rate from 1.5 per cent to 1 percent.

He also announced a proposal to “increase the VAT rate by 2.5 percent to directly support our roads and digitalization agenda;  Fast-track the implementation of the Unified Property Rate Platform programme in 2023; and Review the E-Levy Act and more specifically, reduce the headline rate from 1.5% to one percent (1%) of the transaction value as well as the removal of the daily threshold.”


Follow Us

Comments

Post a Comment

Popular posts from this blog

Video: Christian Atsu’s family sings praises to God after footballer’s rescue

-
Image
  The family house of  Christian Atsu  was overtaken by joy following news that the footballer has been pulled out of a rubble caused by the earthquake in Turkey. On Monday, it emerged that the 31-year-old winger had been trapped in the rubble after a devastating earthquake hit the country. Atsu, who currently plays for Turkish side Hatayspor, had been trapped under the rubble together with the club’s sporting director Taner Savut. However, after hours of searching for the duo, it was confirmed on Tuesday morning that the Ghanaian has finally been found alive and is receiving treatment at a hospital. In a video shared on YouTube, the Peace FM head of sports spoke to Atsu's senior brother and other members of his family, who were captured singing praises to God for rescuing their kin. The footballer’s senior brother Isaac Yeye Twasam said:  "The entire nation backed us in prayers so I knew God will deliver my brother. Although we heard the news, we wanted to confirm i...
Read more

Inter Held Transfer Talks With Messi

-
Image
  Javier Zanetti has admitted that Inter held transfer talks with Lionel Messi once it became clear that the Argentine icon would be leaving Barcelona. An unexpected opportunity for leading sides across Europe to acquire the all-time great presented itself in the summer of 2021, with financial struggles at Camp Nou meaning that Barca were unable to tie the seven-time Ballon d’Or winner to a new contract. Various options were presented to Messi at that time, with Inter making one play for his much sought-after signature, but were unable to compete with the spending power of Paris Saint-Germain and Premier League suitors. Inter vice-president Zanetti has told DAZN of approaching his fellow countryman: “I was surprised when he [Messi] left Barcelona. Realistically, we cannot compete with PSG or Premier League clubs, but due to our rapport, we spoke when there was a chance.” Messi has been linked with Inter at various stages over the course of his career, but the Mi...
Read more

Manchester City Could Face Premier League Expulsion or Points Deduction As They Are Charged With Breaking Financial Rules

-
Image
  Manchester City have been charged by the Premier League for breaching financial rules more than 100 times in the space of nine seasons. The charges against the reigning champions relate to financial information regarding revenue, details of manager and player remuneration, UEFA regulations, profitability and sustainability and co-operation with Premier League investigations.  A statement from the league said alleged breaches were committed from September 2009 to to the 2017-18 season and will now be referred to an independent commission. City are also facing charges for failing to cooperate with the investigation, which began in December 2018.  It adds that the club is alleged to have breached league rules requiring provision 'in utmost good faith' of 'accurate financial information that gives a true and fair view of the club's financial position'. Should Man City be found guilty, they face a range of potential sanctions including a points deduction or ev...
Read more