Business News of Friday, 21 January 2022
E-Levy to be re-laid before Parliament on January 25
E-Levy to impose 1.57% charge on all electronic transactions
E-Levy to raise extra GH¢6.9 billion in revenue for 2022, Government
The decision by government to embark on a sensitization drive on the Electronic Transaction Levy, has been labelled as a reactionary move that only seeks to impress investors.
According to Isaac Adongo, who is a member of the Finance Committee in Parliament, the timing of the sensitization with the public demonstrates government’s lack of seriousness on the tax measure.
“Parliament is resuming next week, and he [Finance Minister] is now contemplating engaging Ghanaians. Clearly, you can see they are not serious,” he is quoted by Citi News.
“They are basically playing around with the emotions and monies of investors who are losing them. They are being warned, and it has all been a reaction to the downgrade of the country,” the MP pointed out.
The Bolgatanga Central MP further insisted the introduction of the e-levy was not a prudent measure to revive the economy but urged government to rather cut down on its expenditure.
“The comment by Ghanaians is that we are spending much more than we can raise. Cut back on the frivolous profligate expenditures so that you are able to live within your means,” Adongo said.
Meanwhile, government has said it will re-table the Electronic Transaction Levy Bill before Parliament when it reconvenes on January 25, 2022.
The levy, which was contained in the 2022 budget statement, seeks to impose a 1.75 percent charge on electronic transactions covering mobile money payments, inward remittances, ATM withdrawals among others.