Category: Top Stories
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E-levy likely to erode gains made in digitalization agenda – Ken Ashigbey
The Ghana Chamber of Telecommunications says the electronic transaction levy has the potential of undoing the gains made in digitising the economy. According to the Chamber, this policy initiative is at variance with steps taken by members to improve financial inclusion. The decision to slap a 1.75% tax on electronic transactions has been met with…
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Economist urges gov’t to target telcos profit, others to raise needed revenue
As Parliament prepares to begin debating the 2022 Budget Statement on Tuesday, November 23, 2021, a senior lecturer in the Department of Economics at the University of Ghana, Dr. Adu Owusu Sarkodie has called for a more holistic approach to revenue mobilization next year. The Minister for Finance, Ken Ofori-Atta on Wednesday, November 17, 2021,…
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![Stakeholders concerned about impact of e-levy on digitalization drive [Video]](https://citibusinessnews.com/wp-content/uploads/2021/10/mobile-money-ghana.jpg)
Stakeholders concerned about impact of e-levy on digitalization drive [Video]
Stakeholders have warned that the electronic transaction levy risks eroding gains made in digitising the economy. The Finance Minister, Ken Ofori-Atta, in the 2022 budget statement revealed that a 1.75% tax will be slapped on electronic transactions beyond GH¢100 daily and more than GH¢3,000 monthly. But according to observers, this policy initiative is at variance…
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Most MSMEs unwilling to pay more taxes even for better government services – CDD report
The majority of Medium, Small and Micro Enterprise (MSME) owners in Ghana are unwilling to pay more taxes even if it means benefiting from more improved government services. This is according to the report of a survey conducted by the Ghana Center for Democratic Development (CDD-Ghana). The report titled ‘Access to Justice and Public Services,…
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We only suspended operationalization of toll collection, not the law – Roads Ministry
The Roads and Highways Ministry has clarified that the recent directive by the sector minister for the cessation of the collection of tolls on public roads was not to set aside the laws for toll collection. According to the Ministry, the directive was to the effect of stopping the operational duties of toll collection due…
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E-levy won’t discourage people from going cashless – Adu Boahen
Minister of State at the Finance Ministry, Charles Adu Boahen, is confident the introduction of the Electronic Transaction Levy by the government will not discourage Ghanaians from going cashless. The announcement of the new levy was made during the 2022 Budget reading on Wednesday, November 17, 2021, as part of the government’s strategies to widen…
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Government’s e-levy policy ill-timed – Telecoms chamber
The Chief Executive Officer of the Ghana Chamber of Telecommunications, Ken Ashigbey, has said that the introduction of the 1.75% levy on electronic financial transactions is ill-timed. He said the chamber was not consulted by the government on the proposal before the announcement was made in Parliament on Wednesday, November 17, 2021. “When we got…
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GIPC launches 2nd edition of Taste of Ghana
The Ghana Investment Promotion Center (GIPC) has launched the second edition of Taste of Ghana, purposed to showcase and celebrate Ghana’s unique culture in grand style. The launch, which took place at the Centre’s premises, served as the official outdooring for the main event dubbed ‘Taste of Ghana 2.0”, scheduled to take place on 27th…
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Abolishing road tolls will ensure free movement of goods and services – Osafo-Maafo
Senior Presidential Advisor, Mr. Yaw Osafo-Maafo has backed the zero-rating of tolls on all public roads and bridges. The Finance Minister, Ken Ofori-Attah, who made the announcement on Wednesday, explained that tolling points contribute to heavy vehicular traffic witnessed on major roads across the country. In an interview with Citi Business News, Mr. Osafo-Maafo noted…
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2022 Budget: 1.75% tax imposed on MOMO, other electronic transactions
As part of efforts by the government to rake in more revenue for the country, government has slapped a 1.75 per cent levy on mobile money and other electronic transactions that exceed GH¢100 per a day. The levy called ‘Electronic Transaction Levy or E-Levy’ is contained in the 2022 budget. Delivering the 2022 budget statement…