Ken Ofori-Atta: Gov’t to reduce E-levy from 1.5% to 1%
He explained that the taxing of mobile money platforms such as mobile money wallets as well as fintech platforms has significantly contributed to the stunting growth of Ghana’s digital economy.
He said more and more Ghanaians are now refusing to transact business digitally as against the years prior to the introduction of the e-levy when the digital economy was experiencing a boom.
This he says has driven away investments from Ghana’s fintech space and could possibly lead to a collapse of the industry should revenue continue to drop as fast as they are now especially taking into consideration the current economic woes.
“The error we made with e-levy was that instead of taxing the digital economy, we taxed the digital platforms. Ideally what we should have been doing is helping the digital economy to grow, so now we have the situation where a lot of people like me, I have a farm…and I have a merchant wallet so when people buy they put the money on the wallet, when I have to pay my people, I pay my people with that,” he stated.