‘E-levy is a Ponzi scheme; we must oppose it’ – Sam George

Sam George says e-levy is a Ponzi scheme

He charged on Ghanaians to oppose it

He was commenting on the strike by drivers

Samuel Nartey George, MP, Ningo Prampram, has called on Ghanaians to oppose the 1.75% electronic transaction levy, otherwise known as e-levy.

He described the levy as a “Ponzi” scheme.



Read full articlehref='/GhanaHomePage/people/person.php?ID=3115'>Sam Nartey George’s comment comes after the Coalition of Commercial Transport Operators on Monday, declared a strike leaving commuters stranded at the various lorry stations.

The drivers were protesting against the high cost of fuel in the country.
Scores of frustrated passengers were seen standing on the pavement at some lorry stations as they waited for vehicles to pick them to their various destinations.

Some drivers, on the other hand, turned their stations into a football field, all to drive home their protest.

In a post on his Facebook timeline, the NDC MP asked what has happened to the fuel price stabilization levy Ghanaians have been paying.

“And they are planning to loot $40 million in a so-called e-levy service charge. Whatever happened to the fuel price stabilization levy we have been paying?

“We may joke and say e-walking, but that tax is a Ponzi scheme we must oppose as a people,” Sam Nartey George’s post read.

1.75% levy on electronic transactions

Ken Ofori-Atta introduced a new 1.75% levy on all electronic transactions such as Mobile money transactions, remittances and other electronic transactions.

Fees and charges of government services have also been increased by 15%.

The Finance Minister explained, “It is becoming clear there exists an 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.

"As such government is charging an applicable rate of 1.75% on all electronic transactions covering mobile money payments, bank transfers, merchant payments, and inward remittances, which shall be borne by the sender except inward remittances, which will be borne by the recipient.

"To safeguard efforts being made to enhance financial inclusion and protect the vulnerable, all transactions that add up to GH¢100 or less per day, which is approximately ¢3000 per month, will be exempt from this levy,” Ofori-Atta revealed.