We Risk Increased Youth Unemployment, Money Laundering If E-Levy Is Passed In Current Form – Dr Ali-Nakyea

Tax expert, Dr Abdallah Ali-Nakyea, is warning of dire consequences for the country’s quest to digitalise the economy should the 1.75% Electronic Transactions Levy be passed in its current form.

He said passage of the E-Levy Bill could pose challenges for youth employment and give rise to money laundering offences.

Parliament is set to debate the controversial tax measure this week after a botched attempt by the Majority to push through the bill on Friday.

The Electronic Transactions Levy Bill, 2021 seeks to impose a 1.75% levy on transactions, including Mobile money transfers done between accounts on the same Electronic Money Issuers (EMI), Mobile money transfers from accounts on one EMI to a recipient on another EMI, Transfers from bank accounts to mobile money accounts (either directly, GIP debit, bank cards or another scheme), Transfers from mobile money accounts to bank accounts (either directly, GIP debit, bank cards or another scheme) and Bank transfers originating from a bank account belonging to an individual.