Ghanaians should brace themselves: the electronic transactions tax is here to stay

By PK Senyo, Associate Professor in FinTech & Information Systems, University of Southampton

Ghana’s finance minister Ken Ofori-Atta has announced that the government intends to introduce an electronic transaction levy (e-levy) in the 2022 budget. He said this was to “widen the tax net and rope in the informal sector”.

The proposed levy, which will come into effect on 1 February 2022, is a charge of 1.75% of the value of electronic transactions. It covers mobile money payments, bank transfers, merchant payments and inward remittances.…

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