President signs E-Levy Bill into law

President Nana Addo Dankwa Akufo-Addo has signed the Electronic Transaction Levy (E-Levy) Bill passed by Parliament last Tuesday into law.

The President signed the Bill into law moments after a Cabinet meeting at the Jubilee House, Accra, on Thursday.

The Bill, which for sometime generated angst, both in public discuss and in the legislature, was passed by a one-sided Parliament after members on the Minority side refused to take part in the deliberations on the tax on electronic transactions.

They said the Bill was unfair to Ghanaians and walked out of the Chamber of the House before the consideration stage of the statute last Tuesday.

The President’s assent to the Bill paves the way for a charge of 1.5 percent tax on all electronic transactions, including mobile money payment, beginning May this year.

Government says the tax would help the country rake in some 900 million dollars that would help solve the current economic challenges of the nation.

Moments after the passage of the Bill, three members of Parliament on the Minority side filed a suit at the Supreme Court challenging the passage of the Bill.

Their contention is that the House did not meet the required quorum of members before the Bill was passed.