Indexing government scandals one at a time
Finance Minister Ken Ofori-Atta has announced a new 1.75 per cent tax called E-levy on mobile money and all electronic transactions in the country as a measure to “rope in the informal sector into the tax net.”
The Minister announced this while reading the 2022 Budget in Parliament, saying that the decision is part of a number of measures to widen the tax net to ensure all Ghanaians paid their fair share of taxes.
“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 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%, which shall be borne by the sender except inward remittances, which will be borne by the recipient,” he said.
Nov. 17, 2021