One key highlight of the budget is the introduction of the e-levy
The levy will cover MoMo payments amongst others
The announcement of the electronic transaction levy otherwise known as the e-levy has gotten many social media users talking.
According to the budget, 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 for inward remittances, which will be borne by the recipient.
The Finance Minister, Ken Ofori-Atta, at the presentation of the 2022 budget said the government was introducing the levy to be “used to support entrepreneurship, youth employment, cyber security, digital and road infrastructure among others”.
In less than 24 hours since the announcement, there is already a sharp divide in the tax.
It is particularly topping the charts on Twitter.
Whiles some believe it will prove to be counterproductive to government’s digital economy agenda, others think it will rope in the informal sector to contribute to national development.
Here are some reactions below;
When I think about the fact that I have to pay GHc 17.5 as E-levy, for every Ghc1000 that I send, makes me sad. Together with transaction fee,it will be ghc27.5. And they say it is a substitute for road tolls?
— Neutral Mary (@MBanks133) November 17, 2021
Imagine paying ghc17.5 as road toll when u don't have a car. Sad????
Learn on the internet, E-learning
— ???? FUTURE PRESIDENT????® His words-ellency?? (@ssimply_natty_) November 17, 2021
Sell, buy on the internet, E-marketing
Suddenly tax on the internet, E-levy
This tax de3 we no go fit carry, E-heavy
The e levy is in bad faith. It is an ill informed decision.
— Dorkuor Anlor Victor (@AnlorVictor) November 18, 2021
We shall reject this insensitive decision with the last drop of our blood.
Demonstrations loading. https://t.co/YOM6XWoXOb
The E- levy is simply backward. We tax income. Not transactions. #Budget2022
— Torsu 2.0 (@alfred_torsu) November 18, 2021
The era where people carry loads of cash is coming back!#Bawumia #e_levy
— Hameed Mohammed (@HameedMohamme20) November 17, 2021
Out of the total population of 30.8 million Ghanaians, only 2.4m persons are taxpayers relatively; as of August 2019, bank of Ghana reports indicated 23.9m of Ghanaians are active Mobile Money users. The E-Levy/E-Tax is inclusive & a smart way to expand the tax net. #Budget2022
— N.B.A (@Boakyewaa_N) November 17, 2021
Read Full StoryNow the about 2.4M tax payers will have their fellow compatriots join them through E-Levy. If about 30M pay tax, our revenue expands.
— Ghanaba Manuel???????? (@nanakgyesi1) November 17, 2021
This is not to overburden the poor or ordinary Ghanaian but reduce our year & year deficit.
It's in our best interest.#Budget2022
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