• Thu. Aug 4th, 2022

E-levy will reduce Ghana debt burden and provide more jobs – Akufo-Addo

The government has reaffirmed the necessity for the electronic levy, often known as the e-levy, to be implemented.

The President tweeted on Wednesday, January 27, 2022, saying the E-Levy will lessen the country’s need on foreign help, among other things.

“The e-levy will generate cash for the government to develop more roads, provide more employment and opportunities for the youth, and lower our debt burden.”

His remarks are part of the government’s efforts to educate the public about the necessity for the controversial e-levy, which include a nationwide town hall meeting that begins in Koforidua today, Thursday.

The government claims that the comments from the engagement would help it decide how to implement the levy.

The E-levy is a new tax on fundamental transactions related to digital payments and electronic platform transactions that was implemented by the government in the 2022 Budget.

Electronic transactions worth more than GH100 per day will be subject to a 1.75 percent fee.

Minister for Finance Ken Ofori-Atta, Minister for Communication and Digitalization Ursula Owusu-Ekuful, Minister for Information Kojo Oppong Nkrumah, and Deputy Majority Leader Alexander Afenyo-Markin will all be present at the town hall meeting.

Sector-specific Civil Society Organizations (CSOs) and other relevant industry stakeholders will also be in attendance at the forums.

The Ministry of Information is hosting the Town Hall Meeting, which will be broadcast live on several television networks around the country as well as on the Ministry’s social media pages.

E-Levy will cover:

a. Mobile Money Transfers between accounts on the same electronic money issuer (EMI).

b. Mobile Money transfers from an account on one EMI to a recipient on another EMI.

c. Transfers from bank accounts to mobile money accounts.

d. Transfer from mobile money accounts to bank accounts.

e. Bank transfers on a digital platform or application originate from a bank account belonging to an individual to another individual.

E-Levy will not impact:

a. Cumulative transfers of GHS 100 per day made by the same person.

b. Transfers between accounts owned by the same person.

c. Transfers for the payment of taxes, fees, and charges on the Ghana.gov platform.

d. Electronic Clearing of Cheques.

e. Specified merchant payments (i.e. payments to commercial establishments registered with GRA for Income Tax and VAT purposes).

f. Transfers between principal, master-agent, and agent’s accounts.

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