#BUDGET22: E-levy presents innovative way to build a robust Economy - Dr. Kyeremateng

 Dr. Michael Kojo Kyeremateng, Central Regional Chairman for Akufo-Addo’s Government Advocate and also the NPP Central Regional Treasurer Hopeful, has said the introduction of the e-levy in the 2022 budget statement presents innovative and equitable ways in generating revenue for critical projects to help build a robust Economy.

Speaking with Angel News' Nana Gyenin after the presentation of the 2022 budget statement by Finance Minister Ken Ofori Atta on Wednesday, November 17, Dr. Kyeremateng said “Government decision to scrap tollbooths, 1% special import Levy, 17.5% VAT/NHIL on financial services and other imported machines, 5% VAT/ NHIL on real estate and many more is a bold move to reduce the burden on Ghanaians, while the introduced e-levy, presents an innovative & equitable approach to raising revenue for critical projects. I’m happy that transactions below 100gh are exempted, to provide some relief.”

Finance Minister Ken Ofori-Atta announced a new levy to be charged by the government in 2022 on all electronic transactions to widen the tax net and rope in the informal sector, adding that, “A portion of the proceeds from the E-Levy will be used to support entrepreneurship, youth employment, cyber security, digital and road infrastructure among others.”

This new levy is scheduled to start Saturday, January 1, 2022.

In 2020, the total value of transactions was estimated to be over GH¢500 million with mobile money subscribers and users growing by 16 percent in 2019.

According to a Bank of Ghana report, Ghana saw an increase of over 120 percent in the value of digital transactions between February 2020 and February 2021 compared to 44 percent for the period February 2019 to February 2020 due to the convenience they offer.

This was definitely heightened by the advent of Covid-19, especially during the lockdown.

After the announcement, the government was backlash through the social media and some traditional media by some opposition candidate like, Hon Haruna Iddrisu, Hon Ato Forson and many more.

But, speaking in defence, Dr. Kyeremateng believes the introduction of the new Levy will go a long way to support government intentions to lessen burden on Ghanaians.

He added that, abolishing other Levies is also a great released to the economy and fruitful implementation of a better development in the country and therefore Ghanaians should consider before roasting the government.



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