"Government projected to rake in some Ghs 7 billion as revenue from E-Levy"

" \n Government projected to rake in some Ghs 7 billion as revenue from E-Levy \n \n\n \n Government is projected to earn around Ghs 7 billion in revenue from the newly introduced electronic transaction tax in its first year of implementation as government promises to embark on further consultations with key stakeholders particularly telecommunication and financial technology [FinTechs] companies to ensure the implementation of the levy. \n \n\n \n This is according to the Deputy Minister for Finance, John Kumah. \n \n\n \n Making the assertion on Joy FM's PM Express business edition, the Deputy Minister for Finance noted revenue generated from the E-Levy will be used for road infrastructure among others. \n \n\n \n \"The electronic transaction levy is to serve as revenue to government for projects such as road infrastructure amongst others,\" he stated further explaining that the charges will only affect momo transactions above Ghs 100 in a day. \n \n\n \n Read Also: Bawumia lauds BoG, financial institutions for their roles in Ghana\u2019s efficient payment system \n \n\n \n The E-Levy as announced by the Finance Minister, Ken Ofori-Atta in the 2022 budget presentation to Parliament last Wednesday, has been met with sharp criticisms with some analysts raising concerns about the levy's negative impact on financial inclusion. \n \n\n \n Though government believes it is a way to raise enough revenue to close the large fiscal gap, critics of the levy are of the view that it is a lazy approach by the government in raising revenue. \n \n\n \n But commenting on the concerns raised, the Deputy Minister for Finance downplayed the concerns raised, however, promising that the new levy will be reviewed before it becomes operational on January 1, 2022. \n \n\n \n Meanwhile, the announcement of the levy has attracted mixed reactions from the Ghanaian populace. \n \n\n \n With a section of the Ghanaian populace calling for the repeal of the levy, others say they are in support of the levy only if the revenue generated from the levy will be used for a good cause. \n \n\n \n \n \n\n \n \n \n\n \n \n "

"Government projected to rake in some Ghs 7 billion as revenue from E-Levy"

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