• About
  • Advertise
  • Privacy Policy
  • Contact
Saturday, January 28, 2023
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Parliament Approves Reduction Of E-Levy Rate To 1%

December 22, 2022
Priscilla Dziedzorm FiakpornubyPriscilla Dziedzorm Fiakpornu
in General News
0
Parliament Approves Reduction Of E-Levy Rate To 1%

Approval of E-levy Reduction to 1% by Parliament

Parliament of Ghana has approved the reduction of the Electronic Transfer Levy (E-Levy) from 1.5 percent to 1 percent.

The motion to reduce the e-levy was approved by the house after the lot fell on the Majority to move the motion, leading with a headcount of 136 votes against the Minority with 135 votes.

Effective implementation of the new policy will kick start come next year, 2023.

RelatedPosts

FDA Suspends Operations Of ‘Yellow Sisi’ Over Food Poisoning And Death Of One Person

NPP Communications Director Deletes Fake NDC Letter Tweet After Backlash

I Am Not Opposed To Debt Restructuring- Mahama

Dr. Cassiel Ato Forson, Ranking Member on the Finance Committee of Parliament said, while debating about the amendment of the Bill in Parliament that the Minority would now support the levy to help the government rake in an amount of GH¢2.2 billion for 2023.

The Ranking Member on the Finance Committee of Parliament also indicated in his argument that though the house has agreed on the reduction of the e-levy rate to 1percent, the GH¢100 threshold on daily transactions still holds.

6272022110104 8eu2xkjwvr 50341593 e5ac 4728 81b9 db49ba03e061

“The value of GH¢100 from the time the levy was introduced till today has been eroded. So I don’t know why that threshold should be removed. Our position is that; this levy should be removed completely. Since we haven’t been able to achieve that and government has reduced it from 1.5 to one percent, we cannot be the same people to oppose it.”

Dr. Forson

In the meantime, the 2.5 percent Value Added Tax (VAT) proposed by the government has also been approved and will likewise take effect in 2023.

This implies that Ghanaians will have to prepare to pay more for goods and services in the coming year.

According to Minority Leader, Haruna Iddrisu, this new approval will further deteriorate the economy.

The Appropriations Bill for 2023

The Appropriations Bill for the 2023 fiscal year has also been approved by parliament and it consists of government’s budgeted expenditure.

As contained in the bill, the government, in 2023 intends spending GH¢227 billion together with GH¢800 million from the Consolidated Fund and other public funds.

The house was then led to approve the bill by the Speaker of Parliament, Alban Bagbin.

Finance Minister Ken Ofori Atta presents Budget 2022 03
Speaker of Parliament, Alban Bagbin

“The Appropriation Bill 2022 is duly read the third time and passed.”

Alban Bagbin

Meanwhile, with no appointed date for resumption, the house has been adjourned for the Christmas celebrations.

READ ALSO: DataBank To Work Out  Of Its Usual Office Through Digital Channels

Tags: Appropriations BillDr.Cassiel Ato Forsone-levyghanaParliament of Ghana

Related Posts

FDA Suspends Operations Of ‘Yellow Sisi’ Over Food Poisoning And Death Of One Person
General News

FDA Suspends Operations Of ‘Yellow Sisi’ Over Food Poisoning And Death Of One Person

January 28, 2023
NPP Communications Director Deletes Fake NDC Letter Tweet After Backlash
General News

NPP Communications Director Deletes Fake NDC Letter Tweet After Backlash

January 27, 2023
The future looks good for Ghanaian indigenous businesses- Mahama
General News

I Am Not Opposed To Debt Restructuring- Mahama

January 27, 2023
47th SWAG Awards Gala To Take Place In Accra On Saturday, January 28
General News

47th SWAG Awards Gala To Take Place In Accra On Saturday, January 28

January 27, 2023
Ato Forson Is No Match For Haruna Iddrisu – Afia Pokuaa
General News

Ato Forson Is No Match For Haruna Iddrisu – Afia Pokuaa

January 27, 2023
We may witness 16 pesewas increase in fuel prices- COPEC
General News

Gold For Oil: Volumes Too Meagre To Cause Any Change In Pump Prices- COPEC

January 27, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

Producer Price Inflation Rate Rises To 78.1% In November 2022

Next Post

Dr. Juliette Tuakli Appointed As Mercy Ships Diplomatic Ambassador For Africa

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
FDA Suspends Operations Of ‘Yellow Sisi’ Over Food Poisoning And Death Of One Person
General News

FDA Suspends Operations Of ‘Yellow Sisi’ Over Food Poisoning And Death Of One Person

by Angeller AshongJanuary 28, 2023
IMF Compels Government To Sign A ‘Zero-Financing’ Agreement With BoG As A Necessary Condition For Its US$3 Billion Loan
Finance

IMF Compels Government To Sign A ‘Zero-Financing’ Agreement With BoG As A Necessary Condition For Its US$3 Billion Loan

by Priscilla Dziedzorm FiakpornuJanuary 27, 2023
Day 2 of Kwahu Summit 2023: Institutionalizing APD and Dispute Settlement Mechanism Will Be A Turning Point in the History of Africa- Dr. Francis Mangeni
Vaultz Business

Day 2 of Kwahu Summit 2023: Institutionalizing APD and Dispute Settlement Mechanism Will Be A Turning Point in the History of Africa- Dr. Francis Mangeni

by Stephen M.CJanuary 27, 2023
North Korea: Kim’s Sister Condemns U.S Decision To Send Tanks To Ukraine
Asia

North Korea: Kim’s Sister Condemns U.S Decision To Send Tanks To Ukraine

by Comfort AmpomaaJanuary 27, 2023
Ghana Scores C+ in 2022 GCSI, Much Effort Needed To Perform Better This Year
Vaultz Business

Ghana Scores C+ in 2022 GCSI, Much Effort Needed To Perform Better This Year

by Gifty BansahJanuary 27, 2023
LVMH, World’s Biggest Luxury Group Records Huge Sales Amidst Economic Down Turns
Business

LVMH, World’s Biggest Luxury Group Records Huge Sales Amidst Economic Down Turns

by Priscilla Dziedzorm FiakpornuJanuary 27, 2023
FDA Suspends Operations Of ‘Yellow Sisi’ Over Food Poisoning And Death Of One Person
IMF Compels Government To Sign A ‘Zero-Financing’ Agreement With BoG As A Necessary Condition For Its US$3 Billion Loan
Day 2 of Kwahu Summit 2023: Institutionalizing APD and Dispute Settlement Mechanism Will Be A Turning Point in the History of Africa- Dr. Francis Mangeni
North Korea: Kim’s Sister Condemns U.S Decision To Send Tanks To Ukraine
Ghana Scores C+ in 2022 GCSI, Much Effort Needed To Perform Better This Year
LVMH, World’s Biggest Luxury Group Records Huge Sales Amidst Economic Down Turns
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In