Tag: Electronic Transaction Levy
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E-levy to push gov’t revenue to 20% of GDP in 2022 – Fitch projects
International rating agency, Fitch, has projected that the electronic transaction levy will help increase government revenue to 20 percent of GDP in 2022. The 1.75% electronic transaction levy, also known as the e-levy, has become a controversial subject in the country, with both sides in Parliament sharply divided over its approval. While the Majority is…
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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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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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![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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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…