New E-levy Charges “More Wicked” than the previous (Get ready to pay more)
Do you know that the new E-levy Charges on transactions will be “More Wicked” than the previous? That is the reality if you do a careful comparison of what the government has done with no regard to the suffering masses including you.
What this means is that E-levy will be applied to all transactions from 2023. Thus, there will be no more tax-free transfers on funds sent from Ghs100.00 and below. Whatever you send will attract 1% E-levy.
Mobile money users and operators have expressed their displeasure about the new electronic levy (E-levy) directive to be applied to all transactions from 2023.
The Minister of Finance, Ken Ofori-Atta, disclosed during the presentation of the 2023 budget to parliament that E-levy will be reduced from 1.5% to 1%.
However, he furthered that the policy will be applied to all transactions effective 2023 on all mobile money transfers irrespective of the amount sent.
Per the new rate, It is rather two percent and not one percent. It has not been reduced to one percent. At first, if you allow cash out, you did not pay anything but effective 1st January 2023, if you are even allowing cash, if you are withdrawing, or you are sending, you will pay e-levy.
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This was disclosed in an interview carried out by Citi News’ team in Accra to ascertain their opinions on the new directive, one of the mobile money operators said: “I will handle cash. I will do bank transfers. Yes, I will use that one to beat it because I am also wise. If you say it is one percent, but it will be on everything you do, whether you send or allow cash, then it means that you are rather coming to punish me”.
The new E-levy Charges are not aimed at reducing the burden of Ghanaians but at further widening the tax net in an economy messed up by the government.