Business & Finance

Parliament Passes E-levy Bill

The “controversial” Electronic Transfers levy (E-levy) has finally been passed by the Parliament of Ghana.

It was passed by a one-sided House made up of the majority after the minority boycotted the sitting by staging a walk-out.

The House was presided over by the Speaker of Parliament, Alban Sumana Kingsford Bagbin.

After the amended bill was subjected to the processes of Parliament, the Speaker declared the bill passed.

It was passed at the reviewed rate of 1.5%.

The levy, which has a threshold of 100 cedis, shall be borne by the sender, except inward remittances which will be borne by the recipient.

A portion of the proceeds from the E-Levy will be used to support entrepreneurship, youth employment, cyber security, digital and road infrastructure, among others.

The stage for the bill is the Presidential Assent which the Majority leader, Osei Kyei Mensah Bonsu , says will be soon.

Source: Fuseini

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