E-Transaction levy is counterproductive to the country’s cashless economy


A cross section of the public in the Sekondi Takoradi Metropolis say the proposed tax on mobile money and other electronic Transaction will discourage Ghanaians from using available electronic platforms to transact business.

They described the move as counterproductive to the country’s desire for a cashless economy.

The Finance Minister, Ken Ofori-Atta, announced the new tax and the scraping of the road tolls during the 2022 budget presentation on Wednesday as part of efforts to widen the country’s tax net.

However, reacting to the announcement, the residents believed it would ultimately affect businesses and the ordinary Ghanaian.

The residents were equally not pleased with the scraping of road tolls saying, it was a ploy to switch the attention of Ghanaians from what they said was a burden tax.

They said it would also discourage Ghanaians from electronically transacting business which would work against the country’s vision of operating a cashless economy.

“We are happy that they have scrapped the road toll but this electronic transaction levy is something that is going to burden us”, Mr. Francis Koufie, said while indicating that it will contribute to the high cost of living.

The levy, he said if implemented would bring hardships especially at a time when Ghanaians were feeling the impact of the COVID-19 pandemic.

For Madam Dorcas Nkrumah, people who do business would stop sending money via mobile money because of the high charges.

“Mobile money has come to stay, it makes it easier to send money to people, but with this levy, I think people will advise themselves”, she added.

Mr. Emmanuel Mensah described the levy as worrying and said he would henceforth stop sending money via mobile money.

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