The introduction of the new tax on electronic transactions known as the E-levy bill has introduced a 1.5 per cent taxation on electronic money transfers.
According to the government, the introduction of the new tax will help raise over 900 million dollars and address the problems of unemployment and high public debt.
However, Ghanaians did not react well to the approval of the bill adding that the bill will bring an additional burden on top of the high cost of living with fuel prices rising, following the Russian invasion of Ukrainian.
Speaking to a cross-session of mobile money vendors who spoke on the matter they said, Ghanaians redrew money from their wallets out of panic.
“After the e-levy was passed, some of the customers came to realise that, e- levy was not affecting the withdrawals and it has restored things back to normal.”
” There was panic withdrawal before and after the implementation of the levy. Now the business is picking up”
Mobile money vendors add that although business have reverted to normal after the panic turnover over has been low.
” Our turnover has reduced a bit, we expected a loss in the business but I’m okay with the progress of the business”
” We used to cash in on the deposit before but its not the same.”
