(3 minutes read)
- A section of the Ghanaian public has taken to social media to vent to their displeasure about the problems emanating from the implementation of the controversial electronic levy (E-Levy). The implementation of the new 1.5% value tax on e-transactions, they are demanding, should be rolled back. There are also reports about wrong deductions of the tax.
A section of the Ghanaian public has taken to social media to vent to their displeasure about the problems emanating from the implementation of the controversial electronic levy (E-Levy). The implementation of the new 1.5% value tax on e-transactions, they are demanding, should be rolled back. There are also reports about wrong deductions of the tax.
Some customers reported cases of wrong deductions. In the meantime, the Ghana revenue authority has ordered tax collecting department to refund to customers all wrong deductions. It is expected that those corrections would be carried by the staff in a few days’ time. Yet, many of tax payers are still worried about how the new tax may negatively affect their business.
In Ghana, many retail businesses conduct their transactions through mobile money. As of January 2022, 38.9 percent of Ghana’s population aged 15 years and above have a mobile money account. The share of mobile money users significantly increased from 2018; but decreased slightly this year compared to 2020. Many particularly the younger generation consider digital transactions as more convenient as compared to the traditional banking system.
Also Read:
https://trendsnafrica.com/ghana-restricts-export-of-maize-and-soya-beans/
https://trendsnafrica.com/eu-financing-for-ghana/
The government had already anticipated a drop in the use of digital money once implementation began. According to them, there will be a 24% drop in the levies collected in the next six months.
