The Danquah Institute has described the proposed 1.75% Electronic Transaction Levy (E-Levy) by the government as one of the best policies to fuel development in the country
Addressing a press conference in Accra on Wednesday, Dr. Antionette Tseboe-Darko who is the Executive Director for DI said the introduction of a levy on all financial electronic transactions to widen the tax net and rope in the informal sector is in truth a commendable initiative.
According to her, the phenomenal growth and resilience that has occurred in the sector even in the midst of the Covid-19 makes it the ideal area for the government to mobilise revenue.
“Danquah Institute is of the firm believe that the E-levy is one of the best policies from the government. Because, despite the fact that the electronic transaction sector has not grown that much yet, it could do well during the heat of COVID-19 pandemic.
“Clearly, it’s an area the government can have enough revenue to push development,” Dr. Antionette Tseboe-Darko told journalists.
The E-Levy was announced by the Minister in charge of Finance, Ken Ofori-Atta a week ago when he was in Parliament to present the 2022 Budget Statement and Economic Policy Proposal of the government.
Through the new levy, the government is seeking to charge a 1.75% tax on all electronic transactions of more than GHS100 [per day].
From the projections made, the government is looking to make 6.9 billion from Electronic Transactions Levy in 2022 alone.