2022 Budget: Minority to kick against the Electronic Transaction Levy – Ato Forson hints

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After Finance Minister, Ken Ofori-Atta announced government’s intention to introduce an Electronic Transaction Levy, the Minority in parliament has served notice that they will ensure that the levy does not see the light of day.

The Finance Minister, who was delivering the 2022 Budget Statement and Economic Policy to parliament of government to parliament on Wednesday said the Electronic Transaction Levy or E-Levy will help to increase tax revenues for the country.

He added that the proceeds from the levy will be used to support entrepreneurship, digitization and road sector development.

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“The government will charge an applicable rate of 1.75% on all electronic transactions covering mobile money payments, bank transfers, merchant payments, and inward remittances, which shall be borne by the sender except inward remittances, which will be borne by the recipient,” Ken Ofori-Atta announced.

But speaking to the media immediately after the Budget presentation, the minority caucus said the levy is regressive and will further worsen the hardships currently experienced by Ghanaians.

Ranking Member on the Finance Committee and MP for Ajumako-Enyan Esiam, Cassiel Ato Forson assured Ghanaians that the Minority caucus will reject any tax introduced to worsen the hardships faced by Ghanaians.

“We are hearing that they are going to introduce electronic transaction levy which is going to affect mobile money transaction and bank transfers as well as remittances…We think this is not acceptable and we will advise ourselves when the time comes. Again, we are seeing that they are going to introduce a special tax on mobile money, we have served notice through our Minority Leader that the Minority caucus of Ghana’s Parliament will stand by the ordinary Ghanaian in opposing the mobile money tax,” he said.

He added that the Minority will not accept any additional increment in fees and charges.

“Let me also say that we have seen a 15% increase in all government fees and charges and we think that it is a bit too much and that the government may need to think about it. These new tax measures will bring great suffering to Ghanaians who have already been choked with taxes.

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The electronic transaction levy will not only worsen the hardships but will significantly compromise inward remittance which is relied upon heavily by many Ghanaians. We wish to vigorously assure the people of Ghana that we will oppose the killer taxes and we will ensure that any one of them that will affect the lifestyle of Ghanaians will be rejected,” Dr Forson explained.


SourceABC News

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