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Salaries received through mobile money platforms in Ghana will be affected by the recently passed Electronic Transfer Levy (E-Levy). The e-levy is expected to be levied from May this year. The proposal to impose e-levy on transactions has caused considerable consternation among the public, particularly those transacting money through the net
Salaries received through mobile money platforms in Ghana will be affected by the recently passed Electronic Transfer Levy (E-Levy). The e-levy is expected to be levied from May this year. The proposal to impose e-levy on transactions has caused considerable consternation among the public, particularly those transacting money through the net.
Monies from bank accounts to mobile money platforms will attract a 1.50% mobile money charge. The current law does not distinguish between corporate and individual mobile money accounts. For the banks, the disbursements from corporate accounts were seemingly exempted from e-levy. The concerns of individual taxpayers are being forwarded to the Finance Ministry with the hopes of having them addressed.
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The announcement of the electronic levy has attracted many criticisms. The e-levy was announced last year. Debates over this sparked a brawl in Ghana’s parliament. Demonstrations have been staged by the public with many Ghanaian celebrities joining the protests on Twitter. But the government insists the introduction of the new tax will help in gathering money for rapid development in the West African nation. President Akufo Addo said in an interview with the BBC last week explained the advantages of the imposition of the tax and how it would shore up funds for development works.
Commenting on the interview, former minister of finance, Seth Terkper, said the introduction of the new tax has tendencies of crippling Ghana’s digital industry. Already, there are reports of a decrease in mobile money transactions ahead of the implementation of the new tax.
