The Majority Leader, Osei Kyei Mensah-Bonsu, says his side has done a good thing for Ghana with the passage of the Electronic Transaction Levy (E-Levy).
“We have done what is good for the country. As a house, we should position ourselves to monitor the proceeds,” he said.
The controversial levy which has taken the centre stage of national debate since the presentation of the 2022 Budget statement in November 2021 was passed on Tuesday, March 29, 2022.
This was amid fierce opposition from the Minority, causing them to walk out of the chamber.
Addressing a press conference after the passage, the Suame MP bemoaned the delay has taken a severe toll on the country’s economy including the withdrawal of foreign investments and a depreciation of the cedi.
“The effect of this long process on the economy has not been good. Over the past three months, there was considerable uncertainty about our revenues, and Ghanaians, investors and Ghana Revenue Authority were worried, which explains why there was a lot of speculation in the system which led to the downgrading of our economy and a downward spiral of the cedi which raised the cost of living,” he lamented.
The levy was amended during the consideration stage from 1.75 percent to 1.5 percent and will be a tax on electronic transactions, including mobile-money payments.
Meanwhile, Minority Leader Haruna Iddrisu has described the approval as a charade because the Majority did not have the right numbers to pass it.