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E-Levy Is A Brilliant Move By Gov’t-Says Nana Akomea

The STC Managing Director, Nana Akomea has called on Ghanaians to welcome government’s E-Levy policy.

Nana Akomea believe that government of Ghana can accurately account for economic activities in the country noting that the E-Levy is a brilliant move.

This comes after Finance Minister Ken Ofori-Atta read the 2022 budget in Parliament on 17th November 2021 stating that toll collection on major roads and bridges will be abolished and E-Levy introduced to compensate it.

After considerable deliberations, Government has decided to place a levy on all electronic transactions to widen the tax net and rope in the informal sector. This shall be known as the ‘Electronic Transaction Levy or E-Levy.’ Electronic transactions covering mobile money payments, bank transfers, merchant payments and inward remittances will be charged at an applicable rate of 1.75%, which shall be borne by the sender except inward remittances, which will be borne by the recipient”, he stated in Parliament.

Nana komea who was speaking on Peace FM’s ‘Kokrokoo’ show said the amount of money generated from toll collection isn’t enough to revamp the road sector.

He stressed that the E-Levy is the best alternative stating that electronic transactions in Ghana exceeds bank transactions as well as generate GHS 960 billion.

In fact, the transactions there is propably bigger all the transactions in the banks. That’s how big and mature the e-economy is.”

The nation needs revenue. We are a poor country. We don’t really have money and we complain everyday that we borrow too much. Today, the borrowing is about 78% of GDP. If you don’t raise revenue from your country, won’t you go and borrow”.

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