Remember you told us taxation was a lazy approach
Finance Minister Ken Ofori-Atta, presenting the government’s 2022 budget to Parliament, announced that motorists driving nationwide public roads will no longer be required to pay road tolls once the budget is approved.
“The government has abolished all tolls on public roads and bridges. It takes effect as soon as the budget is approved,” said Ken Ofori-Atta.
âAfter much deliberation, the government decided to impose a tax on all electronic transactions to widen the tax net and rope in the informal sector. This will be known as a âdirect debit or electronic debitâ.
He explained that the new direct debit will be a 1.75% charge on all electronic transactions covering mobile money payments, bank transfers, merchant payments and inbound remittances at the sender’s expense, with the exception of incoming remittances, which will be the responsibility of the recipient.
However, this will not affect transactions which amount to GH Â¢ 100 less per day.
âA portion of the proceeds from E-Levy will be used to support entrepreneurship, youth employment, cybersecurity, digital and road infrastructure, among others. “
This new direct debit should begin on Saturday, January 1, 2022.
In 2020, the total value of transactions was estimated to be over GH Â¢ 500 million, with the number of mobile money subscribers and users increasing by 16% in 2019.
According to a report by the Bank of Ghana, Ghana saw an increase of more than 120% in the value of digital transactions between February 2020 and February 2021, compared to 44% for the period from February 2019 to February 2020 due to convenience. that they offer.
This has certainly been exacerbated by the advent of Covid-19, particularly during the lockdown.
deputy national organizer of the largest opposition Democratic National Congress (NDC), Leader Hamilton Biney,
has since questioned the âElectronic Transaction Levy or E-Levyâ.
Read a post he posted on his Facebook wall Monday morning below:
Mr President Nana Addo Dankwa Akufo-Addo, you told the Ghanaian people to vote for you so that we can move from taxation to production! Why are you introducing momo tax, E tax and removing your 50% reference on some imports? Is it manufacturing? The hardships of the Ghanaians under your watch after the honey-coated promises are becoming too great. Sir, please save the Ghanaians by honoring your own promises. Remember you told us that taxation is a lazy approach! respectfully sir policy is not about deception, Ghanaians deserve better.