MYGHANAMEDIA.COM Best Source Of Latest News
The government has decided to place a levy on all electronic transactions to widen the tax net and rope in the informal sector, the Finance Minister, Ken Ofori-Atta, has said.
Presenting the 2022 Budget Statement and Economic Policy in Parliament on Wednesday (17 November), Ofori-Atta said the new charge will be known as the “Electronic Transaction 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%,” Ofori-Atta said, “which shall be borne by the sender except for inward remittances, which will be borne by the recipient.
“Mr Speaker, this new policy comes into effect from 1 February 2022. The government will work with all industry partners to ensure that their systems and payment platforms are configured to implement the policy.”
Some economists have warned that the introduction of the levy will defeat government’s digitalisation drive and plans to roll out the digital currency – E-cedi.
Meanwhile, executive management of the Kumasi Compost and Recycling Plant Ltd. has also welcomed the implementation of the electronic tax the government through the finance ministry presented to the Parliament of Ghana.
Speaking in an exclusive interview with MyGhanaMedia.com, Agyenkwa News repoter Obofo Micheal, the Business Development and Communication manager of the Kumasi Compost and Recycling Plant Ltd, Mr. Amo-Asamoah Eugene said that, for every country to develop, the citizens needs to pay their taxes which will help the government to execute the various developmental projects of the country.
“Every developmental projects of the government depends on taxes” Mr. Amo-Asamoah told Agyenkwa news.
According to him, the E-Levy policy introduced in the 2022 Budget is a good policy that could be a game-changer for Ghana.
However, Mr.Amo- Asamoah said that the government must be held responsible for the taxes Ghanaians pay in the interest of the development of the country. The government need to use the taxes received to do the various activities for which the taxes are paid.
Again the government needs to consider the citizens, that we are on harder times so the taxes should be moderate such that every Ghanaian will be able to make his or her own contribution.
Mr. Asamoah later on encouraged all Ghanaians to be hygienic in their various home as we enter into the Christmas festivity.
“It is fir this reason that is why the Kumasi Compost and Recycling plant Ltd has come to collect all refuse in and another country, especially in Kumasi to help control the indiscriminate disposal of waste in our environment.
Source: MyGhanaMedia.com / Obofo Micheal
Send your news stories to myghanamedia@gmail.com and Chat with us via WhatsApp on +233 200818719
