The National President of the National Union of Ghana Students (NUGS) Mr. Yiadom Boakye Emmanuel has explained the government’s E-levy tax transactions on electronic payment.
Mr. Yiadom Boakye Emmanuel explained that, the E-levy is a new tax measure that will be applied only to the originator of transactions on electronic payments, which includes Fintech platforms, online banking and mobile money platforms.
In addition, he said, the E-levy is a new measure, according to the government, is aimed at raising funds to relieve the country’s debt situation which has escalated as a result of Covid-19 with the various challenges so the decision to look internally to raise revenue to cater for certain aspects of the economy is a step in the right direction.
He however said, NUGS would also want Government to give a firm assurance and commitment that the revenue that will be generated as a result of the E-levy will be used to tackle the things stated in the budget, which includes the YouStart Initiative road construction, developing the digital space of Ghana and particularly the development of Basic Education in the country amongst several others.
The NUGS President stated this in a presor intercepted by Coverghana.com.gh in endorsing the 2021 Budget Statement and Economic Policy.