Former Deputy Defence Minister, Major(rtd) Derek Oduro, says government’s E-levy is the best bet for development.
This statement by the former minister is in line with Government’s introduction of E-levy to undertake developmental projects.
Speaking on the floor of Parliament on Wednesday 17th November 2021, Finance Minister, Ken Ofori Attah stated the tax will widen the tax net and rope in the informal sector.
He added that Electronic transactions covering mobile money payments, bank transfers, merchant payments and inward remittances will be charged at an applicable rate of 1.75%, which shall be borne by the sender except inward remittances, which will be borne by the recipient.
According to Ofori Atta, the total value of transactions for 2020 was estimated to be over GHS 500 billion as compared to GH¢78 billion in 2016 while total mobile money subscribers and active mobile money users have grown by an average rate of 18% and 16% respectively between 2016 and 2019.
“After considerable deliberations, Government has decided to place a levy on all electronic transactions to widen the tax net and rope in the informal sector. This shall be known as the “Electronic Levy or E-Levy.”
“Electronic transactions covering mobile money payments, bank transfers, merchant payments and inward remittances will be charged at an applicable rate of 1.75%, which shall be borne by the sender except inward remittances, which will be borne by the recipient,” Ken Ofori Atta told Parliament.
Scores of Ghanaians took to social media to pour out their frustrations on the introduction of the levy.
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Speaking to sit-in-host of Atinka FM’s AM Drive, Nana Owoahenea Acheampong, Former Deputy Defence Minister, Major(rtd) Derek Oduro stated that the e-levy will widen the tax net and aid government to undertake more developmental projects.
According to Major Derek Oduro, the E-levy is in line will provide equal rights for everyone to contribute to taxes.
“The road toll was being paid by just a few commuters. This one is even linked with the rest in that it is convenient. You will not go out and pay to anyone. You pay in the comfort of your room. I think the opposition NDC is just surprised that the NPP could come up with such a brilliant idea,” Major(rtd) Derek Oduro told Nana Owoahene Acheampong.
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