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ASEM: E-levy To Be Reduced To 1% But Will Affect This (See Details)

The government will cut the divisive Electronic Transfer Levy (E-levy) from 1.5 percent to one percent.

The Finance Minister stated that this action was intended to speed up our economic reform and restore macroeconomic stability.

The reduction in the E-levy means that all minor and major transactions will be subject to a fee, according to Ken Ofori-Atta, who presented the 2023 budget statement to the House of Representatives.

He claimed that the review mandated charging for all transactions because the prior threshold was insufficient to provide the government with the resources it required.

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Mr. ken Ofori Atta stated that:

As a first step, however, the headline rate will be reduced to one percent of the transaction value alongside the removal of the daily threshold.”

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