The Member of Parliament for the Dormaa East Constituency, Paul Twum Barimah, has indicated that the Electronic dealings Levy, popularly referred to as E-Levy can boost Ghana’s COVID-19 economic recovery.
per Mr. Twum Barimah, the e-levy may be a tax live introduced by the govt. within the 2022 Budget and policy on basic transactions involving digital payments and electronic platform transactions, which incorporates money technologies platform (FINTECH), E-Banking or on-line banking and mobile cash payment.
Mr. Twum Barimah explained that aside Ghana, different countries have additionally introduced or reviewed their taxes to help their economies live through the impact of COVID-19 trauma.
“Countries like Argentina, South American nation hiked taxes on their rich and high financial gain earners. state extended its worth value-added Tax to digital firms to deal with COVID-19 expenditure. Saudi Arabia, to Illustrate tripled its worth value-added rate to alter it maximise revenue to sustain its economy”.He also indicated that revenues from the e-levy can support government’s road constructions, employment for the youth programmes and support the infrastructure of digital services, further as entrepreneurship.
“Revenue from the e-levy is predicted to be mobilised by the government, through the Gold Coast Revenue Authority (GRA), that shall collect the E-Levy with the telecommunication agencies, money technologies and financial institutions.”
The 1.75% e-levy consists of All Person to Person (P2P) mobile transactions ( that's causation of funds to a different account, payment for merchandise and services, payment of utilities, and Business to Business (B2B) mobile transactions. All points of service (POS)/merchant payments; and every one inward remittances (to be borne by the recipient) are included.However, transfers from personal wallets to bank accounts and the other way around won't attract this levy.
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