The Member of Parliament (MP) for Aowin, Hon. Oscar Ofori Larbi has said his outfit will resist the government’s decision to impose a 1.75 percent levy on all electronic transactions.
The 1.75 percent levy will be imposed on transactions covering mobile money payments, bank transfers, merchant payments, and inward remittances.
The Finance Minister, Ken Ofori-Atta, who disclosed this during the presentation of the 2021 Budget Statement, said the levy is aimed at enhancing financial inclusion and protecting the vulnerable.
However, the law maker disagrees with1.75 percent levy on all electronic transactions.
Hon. Oscar Ofori Larbi said the new levy will “only increase hardship and compromise inward remittance.”
He said the Minority will thus “stand by Ghanaians in opposing the momo tax,” Hon. OscarOfori Larbi exclusively told Kwaku Dawuro on Anopa Nkomo on Accra-based Kingdom FM 107.7
The levy will be waived for transactions that amount to GHS 100 or less in a day, or approximately GHS 3,000 per month.
The government says portions of revenue collected from the levy will be used to support entrepreneurship, youth employment, cybersecurity, digital, and road infrastructure among others.
It is the expectation of the government that the implementation of the new policy will come into force effective January 1, 2022, if the appropriation is passed.
Richard Obeng Bediako / Kingdom 107.7 FM / Kingdom TV/ Kingdomfmonline.com / [email protected] / Ghana / 2021