Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has announced the abolition of the Electronic Transaction Levy (E-levy) and the 10% betting tax. This decision marks a significant fiscal policy shift, addressing public concerns and aiming to stimulate economic activity.
The E-levy, introduced in 2022, faced widespread criticism for hindering digital financial inclusion and burdening low-income earners. Its removal suggests a move towards fostering a more favorable environment for digital transactions.
Similarly, the abolition of the betting tax is expected to revitalize the gaming sector, potentially boosting revenue for licensed operators.
These changes raise questions about alternative revenue strategies. The Mahama led government must now focus on sustainable solutions to maintain fiscal stability and fund public services.
The success of this move hinges on effective implementation and careful monitoring of its impact on revenue and the economy.