According to the Finance Minister, since the focus is shifting from traditional banking to e-banking, there is an increased chance of the country losing some of its means of revenue generation and the e-Levy will cover up for such tax measures.
Speaking at a press conference held in Accra on Wednesday, 19 January 2022, Mr Ofori-Atta noted that the e-levy will help the country sustain enough revenue to invest in government’s initiatives to enhance the lives of the citizenry.
“The e-levy will not only ensure that we move towards a more sustainable debt level, but will also ensure that we have the revenues to sustainably invest in entrepreneurship, youth employment, cybersecurity, digital and road infrastructure,” the Finance Minister stated.
He continued that: “The e-levy also provides a means for all Ghanaians to help support their country and grow this economy as compliant citizens giving to Caesar what belongs to Caesar.
“Undeniably, digitalisation is eroding the traditional resilience of bricks-and-mortar enterprises.”
The Finance Minister added that: “With fewer transactions happening across the counter, there is an increased risk that some of the standard revenue generation and tax measures will gradually become obsolete.”
The e-levy if approved will see a 1.75 per cent levy which will affect all electronic transactions. Read Full Story
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