A one-sided Parliament has passed the controversial Electronic Transfer Levy (E-Levy) bill after the Minority side staged a walkout.

The Finance Minister earlier on the floor of Parliament on Tuesday, March 29, 2022, reduced the bill’s initial rate of 1.75% to 1.50%.

The levy will be applied to mobile money payments, bank transfers, merchant payments, and inward remittances.

The Finance Committee’s report in recommending the approval of the bill urged the House to suspend its standing orders and take the bill through all the stages of passage in one day considering its urgency.

But the Minority side on the Finance Committee led by Ranking Member, Dr. Cassiel Ato voted against the bill arguing it will further worsen the living conditions of the masses as the ordinary Ghanaian is already reeling under huge economic hardship.

Some financial analysts and economists had also advised the government to reconsider its position despite government’s stance that the tax policy will aid the development of the country.

But the government ignored such calls and went ahead to hold town hall meetings in the various regions to rally support for the Bill.

Source: Kasapafmonline.com