The Former Deputy Finance Minister and Member of Parliament for Nhyiaeso, Stephen Amoah, has thrown his weight behind the repeal of the Electronic Transaction Levy (E-levy).
Parliament on Wednesday March 26, passed the Electronic Transfer Levy Repeal Bill 2025, officially scrapping the controversial E-Levy, which previously taxed electronic financial transactions.
Supporting the repeal, he acknowledged that the levy, when first introduced, faced strong resistance.
He noted that the decision to repeal it should not only be seen as a fiscal policy adjustment but as a necessary step to address concerns raised about its effects on businesses and individuals.
“Mr. Speaker if you read the bill, there is this essential extract that illustrate the fact that when it was being passed, it faced fierce resistance.
So you realize that the repeal is being done not because our fiscal space is presented in a manner that will offer us the needed expected impact on our socio-economic free back as a country but because of the resistance,” he stated.
He pointed out that while there are signs of economic recovery, fiscal policies must be structured in a way that ensures sustainable growth.
The MP stressed that the rationale behind such policies should be clearly communicated to the public to foster better understanding and acceptance.
He further noted that as the economy evolves, there is a need to make adjustments that align with the country’s broader development goals.
He urged fellow lawmakers to consider policies that would ease the financial burden on citizens while promoting long-term economic stability.
