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Ghanaians should brace themselves on the electronic transaction tax – William Yamoah

Ghanaians should brace themselves on the electronic transaction tax – William Yamoah

The Presidential staffer in the office of Vice President in charge of Special Projects made some profound comments that Ghanaians should brace themselves on the electronic transaction tax.

On 17th November 2021, the Finance Minister read the 2022 budget, introduced the E-Levy which is occasioned by the surge in Mobile money transactions during the COVID-19 pandemic 2020.

According to the Finance Minister, Ken Ofori-Atta, the total transaction for 2020 were estimated to be over ¢500 billion compared to Gh¢78 billion in 2016, just five years ago.

Mr. William Yamoah, the deputy director for Special Projects in the office of vice President urged Ghanaian to support the Governments agenda of taxing electronic transactions to generate more more for developmental use.

According to him, it will increase tax revenues by adding a levy on Mobile Money payments, bank transfers, merchant payments and inward remittances. Taxing electronic payment is key to raising revenue, while the justification for this new levy is to widen the tax base of the economy.

In an exclusive interview with Asante Akyem Watch reporter, Mr. Emmanuel Ampong, he pleaded on Ghanaians to exercise patients on President Akuffo-Addo and Dr. Bawumiah things will surely turn around to the greater good of everyone.

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