The Minority Leader in Parliament, Haruna Iddrisu has said that the minority caucus will not support the approval of the 1.75 per cent tax on all electronic financial transactions.

He said this during the Post-Budget workshop in Ho on Saturday.

According to him, the minority is kicking against the proposal because the 1.75% will be a tax on capital not income or revenue and what they do know is that government tax income or revenue and not capital.

“As a business person what we do know is that government tax income and revenue not capital. So if you were sitting somewhere in Tamale or Suame and you were buying pads in Abosseyokai and you just transferred one million Ghana Cedis, you’ll lose Gh¢17,000 of that money. That is a tax on capital not on revenue and not on income and therefore we have no hesitation serving you notice that we’ll not be convinced as to the justification of this particular tax measure on e-levy. It will not promote an inclusive of digital economy for our country,” he said.

The 1.75% tax on electronic financial transactions was proposed in the 2022 budget statement presented before Parliament by the Finance Minister, Ken Ofori-Atta on Wednesday, November 17, 2021.

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