President Akufo-Addo assents the E-levy bill into law

The President of the Republic of Ghana, Nana Akufo-Addo, signed into law the electronic transaction levy bill ( e-levy). He did so two days after it was passed by the Parliament under controversial occurrences.

This comes just a day after the minority in Parliament filed a suit at the apex court of Ghana (Supreme court ) to question the passage of the levy. They contended parliament do not have the numbers to pass it.

The preliminary 1.75 per cent recommended was later curtailed to 1.5 per cent of tax on electronic transactions, and the charge will be applied to transactions more than GHS 100 daily.

Faultfinders of the proposed levy have warned that this recent tax discipline will negatively influence the business domain. as well as harms low-income species and that outside the formal banking sector.

The government has also argued that the levy would widen the tax net and that could raise an extra GHS 6.9 billion in 2022.

 

Bainamultimedia.com/Adu Simon

 

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