The Finance Minister, Ken Ofori-Atta, has disclosed that the government has decided to reduce the rate of the controversial Electronic Transfer Levy by 0.25 percent.
He said per this directive, the levy will no longer be 1.75% but 1.5% on all electronic transfers if the E-levy Bill is approved by parliament.
He said this when appeared before the House on Tuesday, March 29, 2022, to table the motion for the commencement of the debate on E-levy.
“During the period, the telecommunication operators agreed to reduce their charges by 25 percentage point to bring their part of the charge to 0.75 percent. In light of all these discussions and that same great spirit of cooperation, the government has also decided to reduce the rate of the levy from 1.75 to 1.5 percent of the transfer. At the consideration stage, I will bring the necessary amendments to reflect the changes”, he said.
The House debated a motion moved by the Minister of Finance, Ken Ofori-Atta, on the controversial electronic transfer levy despite initial objections raised by the Minority.
Leader Haruna Iddrisu maintained that his side remains opposed regressive and insensitive.
“When the business statement was presented last week, it [E-levy] was not part of the business approved for the house. We have warned time and again and cautioned that we do want to be taken by surprise by a major economic policy of the government. Parliament cannot be that when a side is convenient with its number, then the business can go on. It cannot be. We will not accept that culture. So when they [Majority] did not have the numbers, they weren’t ready. Now, that they have the numbers, then you say we should do business.”
Despite the objection, the Finance Minister, Ken Ofori-Atta, was allowed to move the motion in Parliament.