Most Ghanaians will accept the Electronic Transaction Levy (E-Levy) if government pegs the rate at 1% or 0.75% instead of the current rate of 1.75%, the executive director of the Institute for Statistical, Social and Economic Research (ISSER) Prof Peter Quartey has suggested.
His comment comes on the back of recent opposition to the controversial bill by the Minority in Parliament and a cross section of the general public.
“You see, the challenge I have with the 1.75% is that when the rate is high, mind you there are subtitles; if I can walk to the bank, if I have to pay and I can also walk to the bank and pay cash and I can also walk to you and give you cash, and it depends on the volume, I will substitute and will not use it,” Quartey told Asaase Radio on TownHall Talk on Friday (11 March).
“I want a situation where you fix a rate… so if the rate is not too high, a lot of people will use it and you are likely to get more revenue. If you peg it at 1.75% we will look at alternatives and perhaps that might not work in your interest.
“If you speak to the average user of this MoMo and all that, the 1.75% is too high, the government could do something about it, perhaps you start from 1% or 0.75%,” Quartey said.
Don’t go to IMF
The ISSER boss said he supports the introduction of E-Levy rather than going to the IMF for a bailout.
“I think we should look more into that and I believe Ghanaians will support the E-Levy. I will support the E-Levy rather than going to the IMF.”