The controversial Electronic Levy (E-Levy) will be eliminated by the end of March 2025, according to Deputy Finance Minister Thomas Ampem Nyarko, if the 2025 budget and appropriation are approved.
Nyarko clarified during the OXFAM Tax Dialogue on Channel One TV on Tuesday, March 18, that the E-Levy reduction will take effect after Parliament completes the budget process.
“It will take effect the moment the budget and the appropriation is approved, and that will be by the 31st of this month.
“So all things being equal, from April you will see that all things will be done,” he stated.
Nyarko emphasized the necessity of a thorough assessment of Ghana’s investment climate in addition to tax adjustments. He acknowledged that the nation’s solid democratic reputation is a major draw for international investors, but he also pointed out that other important reasons are deterring new investment.
“We as a country have not fully leveraged on good democratic credentials. A lot of foreign investors prefer Ghana because of our stable political environment but someway somehow other factors are driving investors away,” Nyarko stated.
He called for deeper analysis and stakeholder engagement to identify and resolve these investment barriers, urging discussions on what Ghana “might not be doing right.”
Source:Mybrytfmonline.com/Joseph Asare
