Deputy Finance Minister, Thomas Ampem Nyarko, has confirmed that the controversial Electronic Levy (E-Levy) will be scrapped by the end of March 2025, subject to the approval of the 2025 budget and appropriation.
Speaking during an appearance on the OXFAM Tax Dialogue on Channel One TV on Tuesday, March 18, Nyarko explained that the removal would take effect as soon as Parliament finalises the budget process.
“It will take effect the moment the budget and appropriation are approved, which is expected by March 31. So, from April onwards, the E-Levy will be fully removed,” he stated.
Nyarko also highlighted the need for a broader review of Ghana’s investment climate. While the country’s reputation for political stability continues to attract foreign investors, he acknowledged that other factors were hindering investment flows.
“We have not fully capitalised on our democratic credentials. Many foreign investors prefer Ghana because of our stable political environment, but other issues are discouraging them,” Nyarko said.
He called for further analysis and stakeholder engagement to address these challenges, stressing the importance of identifying what Ghana may not be getting right in its approach to attracting investment.
Source:TheDotNews