President Nana Akuffo Addo has approved the Electronic Transaction Levy into law two days after its passage on the floor of Parliament amidst controversies surrounding the bill. This signifies that e –levy stands the chance of being implemented once the President has issued an accent to it.
The Minority in Parliament filed a suit at the Supreme Court to defy the passage of the levy, claiming that Parliament did not have a quorum to enable the passage.
On Tuesday 29, 2022, Parliament passed the bill in the absence of the Minority caucus after they stage a walkout before the reading of the bill.
According to the Finance Minister, Ken Ofori Atta, the levy is to help the government implement several developmental works in the country.
Initially, the Electronic levy was pegged at 1.75 per cent but was amended to 1.5 per cent on Tuesday, March 29, 2022.
Charges will apply to electronic transactions which are more than GH¢100.00 daily.
Mobile Money Operators are already complaining of sudden panic withdrawals by some Ghanaians across the country.
Operators believe that the introduction of the levy is affecting their business directly making the business take a nosedive, predicting possible high unemployment rates in the country.
The government has, however, argued that the levy would widen the tax net and that could raise an extra GH¢6.9 billion in 2022.
