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Is withdrawing Money from Our Accounts the Best Option to Escape the E-Levy? (Opinion).

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Now let's go straight to the point. My attention has been drawn to some rumors about people flooding vending points of Mobile Money Operators to withdraw their monies from their accounts to escape the 1.75% Electronic Transaction Levy which was announced by the Finance Minister Hon. Ken Ofori-Atta in the floor of Parliament on Wednesday November 17.

According to the statement, all electronics transactions exceeding GHC100 will be taxed; meaning whether you are sending money to someone through your account or you are sending it through a merchant. What we need to understand is that, not all transactions that will be affected by the 1.75% tax but only those that are from 100 Ghana cedis and above.

Therefore, whether you withdraw your money from your account and still go the merchant points to send monies above 100 Ghana cedis, you will definitely be affected according to the budget statement.

The only way to escape this E-Levy is for us to pray for the Parliament to look into that particular point before approving the budget. In addition, there's also a way by escaping the levy by sending a multiples of less than 100 Ghana cedis a day; that is, if you want to send 300 Ghana cedis to a friend or family, you can do it by sending 70, 80, 50, 40 and 60 Ghana cedis.

With these procedures, I think the poor Ghanaian struggling to make a living can escape this E-Levy introduced by the government.

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Ken Ofori-Atta

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