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.
Ina post on Facebook, Ruthy made it emphatic that a proposed 1% E-levy will get the support of Ghanaians as compared to the 1.75% projected by Finance Minister, Ken Ofori-Atta on November 17, 2021.
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Source: TheBBCghana.Com
