The E-Levy imposes an additional 1.5 per cent charge on electronic transactions including bank and Mobile Money.
When opposition to the bill heightened, when it was introduced, the Finance Minister, Ken Ofori-Atta proposed a reduction in the rate from 1.75 to 1.5 per cent.
Citizens already pay a one per cent charge on Mobile Money transactions and many have argued against it in the face of deepening financial crisis in the country, due to many factors including the country’s growing debt burden, now above 80 per cent, the impact of the COVID-19 pandemic and what many citizens believe to be mismanagement of the economy.
While the tax has been described as regressive and punitive, it is yet to be seen if the citizens would mount any form of civil protest to demand its repeal.
By Emmanuel K. Dogbevi