Ghanaians have taken to the streets to give their government a token of their minds over the introduction of electronic transaction levy.
Finance minister Ken Ofori-Atta, on November 17, 2021, announced the introduction of a 1.75% tax on all electronic transactions.
Ofori-Atta said the directive forms part of strategies to widen Ghana’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, GhanaWeb reported.
The E-Levy was slashed to 1.5% following an uproar. Ofori-Atta pulled out the E-Levy from parliament and is expected to re-lay it before the House on February 15.
Ghanaians are protesting in anticipation of that reintroduction post-Valentine’s Day.
Critics say the move could lead to job losses as people could boycott services to the levy applies.
