The Minority’s spokesperson on Finance, Dr. Cassiel Ato Forson has opined that the current government does not think thoroughly before introducing new taxes.
He reiterated that the Minority will resist the government’s decision to impose a 1.75 percent levy on all electronic transactions.
He described the levy as pure wickedness, recklessness and a means to worsen the plight of Ghanaians.
He stated that the government does not assess the social impact of their tax policies before they are introduced.
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.
But Ato Forson says the introduction of the levy will rather burden Ghanaians and worsen their plight.
Mr. Forson said the new levy will “only increase hardship and compromise inward remittance.”
“I have discovered that the NPP does not think thoroughly before introducing new tax policies. They just introduce it when it comes into their head. An example was when they introduced an increment on tolls, they never thought of the social impact on the people. I am a social democrat and I will speak for the Minority,” he added.
If approved, 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.
“Government will work with all industry partners to ensure that their systems and payment platforms are configured to implement the policy”, the Finance Minister said.