The deputy finance Minister, Dr. John Kumah, has cleared the air regarding e-levy charges on Internet bank transactions.
Speaking on Ghana Nti, a late afternoon Political Show on Movement TV, he said ‘’e-levy is a new form of tax that has been introduced in our taxing system. It is 1.5% on all momo and internet banking transactions. Mobile money transactions below 100 cedis does not attract e-levy charges and bank charges below 20,000 cedis will not be taxed’’.
He added that all stakeholders involved have been engaged and the government is ready to implement the electronic tax.
On 17 November 2021, Ken Ofori-Atta said the Government of Ghana have decided to tax all electronic transactions in the informal sector to cover the tax net. He made this known in the 2022 budget statement and economic policy that was read in the parliament of Ghana. The money generated according to the finance ministry will be used to support entrepreneurship, cyber and digital security; road infrastructure and provide jobs to about 11million people in the country. The Government of Ghana said that the introduction of the e-levy was due to the rise of the use of digital platforms for transactions because of the COVID-19 pandemic.
