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    CPP describes 2022 budget as ‘Kumepreko’

    The Convention Peoples Party (CPP) have said they are saddened by what they call the insensitivity of the current New Patriotic Party (NPP) government to the economic plight of the ordinary Ghanaian who is struggling to make end meet.

    A statement issued by the party on Monday November 22 said “this attitude of insensitivity and aloofness exhibited by the current NPP government is clearly postured in the contents and outcomes of the 2022 Financial Statement as presented to Ghanaians through Parliament by the Minister of Finance and Economic Planning Hon. Ken Ofori Atta, a believer in the Christian faith, who disregards the plight of the poor and suffering masses in this Country called Ghana.”

    The Finance Minister during the presentation of the budget statement announced a new levy to be charged by government in 2022 on all electronic transactions to widen the tax net and rope in the informal sector.

    “It is becoming clear there exists enormous potential to increase tax revenues by bringing into the tax bracket, transactions that could be best defined as being undertaken in the ‘informal economy’,” Mr Ofori-Atta observed on Wednesday, November 17 as he presented the 2022 budget statement in Parliament.

    “After considerable deliberations, government has decided to place a levy on all electronic transactions to widen the tax net and rope in the informal sector. This shall be known as the ‘Electronic Transaction Levy or E-Levy’.”

    He explained that the new E-levy will be a 1.75 per cent charge on all electronic transactions covering mobile money payments, bank transfers, merchant payments and inward remittances to be borne by the sender except inward remittances, which will be borne by the recipient.

    This will, however, not affect transactions that add up to GH¢100 pr less per day.

    “A portion of the proceeds from the E-Levy will be used to support entrepreneurship, youth employment, cyber security, digital and road infrastructure among others.”

    This new levy is scheduled to start Saturday, January 1, 2022.

    Reacting to the budget, the CPP said “Through all the changing scenes of hardships and imposition of nuisance and killer taxes
    which have been handed over to Ghanaians throughout the tenure of this government, it is unthinkable that a 15% increase

    Source3News

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