The Finance Minister-designate and Member of Parliament for Ajumako Enyan Esiam, Dr. Cassiel Ato Forson has reaffirmed his commitment to scrapping the contentious Electronic Transfer Levy (E-Levy) if he assumes office.
During his vetting on Monday, January 13, 2025, Dr. Forson emphasized that while the levy has generated revenue, it poses a significant barrier to Ghana’s progress toward a cashless economy. He expressed his firm belief that the E-Levy is counterproductive to the growth of the financial technology sector and reiterated his longstanding opposition to it.
“I’ve consistently spoken out against the E-Levy, authored articles critiquing it, and led opposition efforts to challenge its implementation. My stance hasn’t changed,” he said. “The E-Levy defies standard classifications as a direct tax, indirect tax, or excise tax—it’s difficult to define as a tax practitioner.”
Acknowledging the economic contributions of the levy, Dr. Forson maintained that its disadvantages outweigh its benefits, particularly in the drive toward a digitalized and cash-light economy. He assured that the levy’s repeal would be prioritized.
“I have previously stated—and I reiterate now—that should I have the privilege to serve as Finance Minister, the E-Levy will be abolished. As part of the Mahama administration’s 120-day agenda, we are committed to delivering on this promise. You can be assured that it will no longer exist within that timeline,” he affirmed.
Dr. Forson’s remarks reflect his commitment to aligning financial policies with the broader goal of fostering economic innovation and inclusivity.
