Tag: E-Levy
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Transactions to be affected by E-levy
As part of efforts to expand the country’s tax base, raise Ghana’s tax to GDP ratio and support government’s efforts at building an entrepreneurial country, government in the 2022 Budget, announced the introduction of the Electronic Transfer Levy (E-levy). The E-levy is a tax imposed on electronic transfers charged at the time of transfer. The…
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Gov’t could struggle if revenue measures aren’t supported – John Kumah
A Deputy Finance Minister, John Kumah says it may get to a time that government may not be able to fulfill some critical payment obligations if its revenue mobilization measures including the Electronic Transfer levy, also known as the E-levy are not supported. The Electronic Transfer Levy is one major component within the 2022 budget…
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‘We are not going to the IMF’ – Ofori-Atta insists amid push for E-levy
Finance Minister, Ken Ofori-Atta, says Ghana will not seek a bailout from the International Monetary Fund, IMF, despite the current economic challenges. Mr. Ofori-Atta says government will consider home-grown solutions to deal with the difficulties because the country has what it takes to turn its ailing economy around. Speaking at the third in a series of town…
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Economist urges Gov’t to signal its readiness to sacrifice as E-Levy debate continues
Economist and lecturer at the University of Ghana Business School (UGBS), Dr. Patrick Opoku Asuming says it’s time for the government to send signals of its willingness to sacrifice some perks if it wants the citizenry to consider accepting the Electronic Transfer Levy (E-Levy). There continues to be opposition to the E-Levy from different quarters…
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Fintech industry players worried e-levy will cause several job losses
Stakeholders in the fintech space have expressed worry that the implementation of the electronic transfer levy will lead to several job losses in the sector. The government introduced a 1.75 per cent levy on electronic transfers in the 2022 budget as part of its revenue mobilisation efforts. In an interview with Citi Business News, Managing…
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1.75% E-Levy is lowest tax in Ghana – Ursula
Communications and Digitalisation Minister, Ursula Owusu Ekuful believes the 1.75 percent tax on electronic financial transactions, also known as the E-Levy when compared to other taxes introduced in Ghana, is the lowest so far. She made this claim during the maiden edition of government’s town hall meeting on E-Levy held on Thursday, January 27th at…
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E-levy will disrupt tax structure if implemented- Seth Tekper
Former Finance Minister Seth Terkper says the E-levy policy if implemented, will disrupt the country’s tax structure. Speaking at a PFM tax dialogue Mr. Terkper said the policy takes the country back in time, undoing major work that has been done to strengthen the tax system. “VAT replaces all these taxes so part of my…
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Gov’t officials to begin public sensitization on e-levy today – Ofori-Atta
The Minister for Finance, Ken Ofori-Atta says government officials will from today, Thursday, January 20, 2022, begin a nationwide public sensitization on the need for the introduction of the controversial e-levy. According to him, officials, including himself, will personally engage citizens on the many policies and programmes the government will use the revenue accrued from…
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Extensive consultations held; e-levy to be re-laid in Parliament – Ofori-Atta
The Minister of Finance, Ken Ofori-Atta says following the conclusion of extensive consultations on the controversial Electronic Transaction Levy, the government is set to resubmit the Bill before Parliament. Mr. Ofori-Atta said the government expects legislators to approve the document when it is put before Parliament later this month. Voting on the levy led to…
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Gov’t has no choice than to implement e-levy to salvage debt situation – Joe Jackson
Economic analysts have opined that Ghana needs to implement the electronic transaction levy, popularly known as the e-levy, in order to rake in revenue to manage the country’s debt situation. According to them, the levy is the only hope for salvaging the debt situation. The 1.75% e-Levy which has become a subject of debate among…