On November 17, 2021, Finance Minister, Ken Ofori-Atta, during the 2022 budget reading in parliament, announced the introduction of 1.75% tax on all electronic transactions.
According to him, this new directive forms part of strategies to widen the country’s tax net. He added that the 1.75% tax is also to enhance financial inclusion and protect the vulnerable in the country.
According to Ken Ofori-Atta, monies accrued from E-Levy will be used to create jobs and grow the private sector to employ more of the teeming unemployed youth in the country.
Government is likely to rake in about GH¢500m a month from the newly introduced e-transactions levy.
In a year, a total of GH¢9 billion would be generated from the new directive. However, there’s been several controversies about the E-Levy since its introduction.
It’s at the back of the brouhaha and difficulties surrounding the passage of the E-levy that Ruthy, a highly-opinionated social critic, has admonished Akufo Addo to consider slashing the 1.75% percentage.
Honestly, this government needs applause than 24/7 bashing. NPP government under Akuffo Addo led administration is doing phenomenally well and hence need to commend the government and support his ideas and initiatives.
It is true “Ghanaians have Short Memories”!!!
From 2017 till 2022, when was the last time, you heard of #ScarcityOfBasicCommodities (Necessities) like “Petrol, diesel, gas, premix fuel” in the country?
But when John Mahama was in power, you have the money but no gas to fill your cylinder, no premix fuel, no ECG light, etc.
A government that has helped in GDP growth with about 6.5% in 2019. Though we in hard times and this government has shared with us one of the possible solutions by introducing to us with “E-Levy”, many countries have introduced this system with change of name to help boost the economy.
Problem, I have with government is most of its communicators do not communicate to its citizens on clarification but rather attacking “frustrated citizens” that need answers and understanding on issues. To me, that’s pathetic.
Letting people know the importance of your ideas needs proper convo but most of the communicators attack and denigrate the able Ghanaian who’s seeking for clarity.
Going forward, I want to say let’s support #E-Levy and then we look into the percentage from 1.75% to a fixed 1%.
E-Levy is good and will be a solution for all compared to IMF and their conditionalities