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The Minister-designate for Finance, Dr. Cassiel Ato Forson, has reiterated his stance on the abolishment of the controversial Electronic Transfer Levy (E-Levy).
Speaking during the ministerial vetting on Monday, January 13, 2025, Dr. Ato Forson stated that he would seek to abolish E-levy as Finance Minister if he is given the nod.
Despite acknowledging the revenue generated for the economy by the levy, he stated that it hinders the country’s economic progress in achieving a cashless economy, assuring that the levy would be cancelled.
“I’ve written articles against the E-Levy, championed the opposition against it and I still stand by them. The E-Levy is neither a direct tax, indirect tax, or an exercise tax. I don’t know how to classify the E-Levy as a tax practitioner.
“It doesn’t mean that I don’t recognize that the E-Levy brings in certain revenue but the fact remains that it retards our progress towards a cash-light economy in the fintech, we need to abolish the E-levy,” he said.
The Ajumako Enyan Esiam Member of Parliament further assured that his office as the finance minister would announce the cancellation of the E-Levy within the 120 days promised by President John Dramani Mahama-led government during their campaign.
“I am on record to have said that given the opportunity we will abolish the E-Levy. I want to restate that position that if approved, I will be privileged and I will announce that we will abolish the E-Levy as part of our first budget recognizing my earlier stance and the commitment that President Mahama said that as part of our 120 days agenda, we will abolish the E-Levy. We stand by that and I can assure you, the E-Levy will go within the 120 days calendar we have announced,” he assured.
