34 C
Ghana
Saturday, March 2, 2024
HomeUncategorizedGovernment To Reduce Proposed 1.75% E-Levy, Says Ofori-Atta

Government To Reduce Proposed 1.75% E-Levy, Says Ofori-Atta

Date:

Related stories

Passage of anti-gay bill: It’s a sad day for Ghana’s democracy – Audrey Gadzekpo

The Center for Democratic Development’s (CDD-Ghana) board chair, Audrey...

I taught Florence Obinim how to sing – Naa Agyemang reveals

Veteran Highlife musician Naa Agyemang has indicated he contributed...

Senseless Movie Is Better Than Pornography” – Shatana Slams Martha Ankomah

Philanthropist and female songstress, Shatana has replied famed actress,...

LBO Featherweight Champion “Ashanti Warrior” Presents Title to Otumfuo Osei Tutu II

On February 18, 2024, LBO Featherweight Champion Stanley Nyantakyi gladly presented his title to Monarch Otumfuo Osei Tutu II at the year's second Akwasidae celebration. Nyantakyi, also known as the Asante Warrior, retained his unbeaten record by knocking out Togo's Komlangan Hounkpatin in his first international fight in Accra on February 3, 2024, to capture the LBO Featherweight title. Accompanied by his management team, Osibo Boxing Management and Promotion, Nyantakyi requested permission to incorporate the return leg of his bout into activities planned for Otumfuo's Silver Jubilee in the following months. The match will be held in Kumasi. Born and bred in Kumasi, Nyantakyi migrated to...

MATTHEW OPOKU PREMPEH WILL BEST COMPLEMENT BAWUMIA – NPP NATIONAL YOUTH WING

The National youth Wing of the governing New Patriotic...
spot_imgspot_img

Ken Ofori-Atta, the Finance Minister says the government in consultation with the various telecommunication companies will scale back the proposed 1.75% levy on all electronic transactions in the country.

The minister who was making his final submission before Parliament [30 November 2021] to address some concerns raised by Ghanaians after the presentation of the 2022 Budget Statement and Economic Policy of the government said the move is to manage the impact of the policy on citizens.

“We have considered the issue of the 1.75% E-Levy in which Mr Speaker, we’re in discussions with the telcos and to scale back and moderate the impact of the 1.75% E-Levy so that in the end, the impact on the citizenry will be manageable,” he stated.

The Minority in an earlier statement indicated that the “government should suspend the E-Levy and properly engaged stakeholders to agree on a reasonable policy. How can mobile money payments, bank transfers, merchant payments, and inward remittances be charged 1.75%? The policy is retrogressive, not pro-poor and does not support the much-touted digitalisation agenda and cash lite economy that we all yearn for.”

Aker Energy deal

The Minority’s statement also urged the government to properly reconstruct the wording relating to Aker Energy and also involving the GNPC acquisition of stake from Aker Energy and AGM Petroleum.

In response, the finance minister assured the House that the committee assigned to discuss the Aker Energy and its related issues will address them as per the demands of the Minority.

“Mr Speaker, there was an issue about Aker Energy which we agreed in our statement that we will correct the language appropriately during committee meetings and that, we commit to doing,” he added.

Withdrawal of Agyapa

The Minority in their demands and in connection with the Agyapa deal also indicated that it will not support any collateralisation of the country’s revenues particularly mineral resources.

But Ofori-Atta again, addressing Parliament on Friday explained that “there was another request which has to do with Agyapa and we agreed that consultations are not finished. Attorney General is still working on that and any such issue will also be brought to Parliament. Mr Speaker, in fact, the estimate does not include any revenue from that transaction,” he said.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

spot_img