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| Parliament of Ghana. |
The Electronic Transfer Levy was approved by
Parliament in the absence of the Minority MPs, who walked out before the Bill
was debated at the second reading stage.
The Minority had protested that the sudden levy
discussion had caught them off guard.
The E-levy was not mentioned in this week's
Parliamentary business statement. After, discussing the bill, the Minority MPs
walked out of Parliament before the second reading.
All planned amendments in the names of a few
Minority MPs were withdrawn since none of them were present to offer them.
The Speaker of Parliament, Alban Bagbin, expressed
surprise at the departure by the Minority, but stated it would not disrupt the
proceedings.
The fee, which was reduced from 1.75 percent to
1.5 percent today, March 29, 2022, will be a tax on electronic transactions,
including mobile-money payments. The penalty will be applied to electronic
transactions totaling more than GH100 each day.
Critics of the idea have warned that the new
charge would harm the Fintech industry, as well as low-income persons and
others who are not part of the official banking system.
Since it was established in the 2022 budget, the
fee has been a cause of contention in Parliament. Tensions to a head in
December 2021, when MPs fought in Parliament.
The government, on the other hand, claims that the
charge would broaden the tax base, potentially raising an additional GH6.9
billion by 2022. There are also fears that the government may securitize e-levy
profits to generate more money.
Video Below:
Source: ghananews.hrforum.uk
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