Little drops of taxes create a mighty nation and E-levy will bring massive dev't — Finance Ministry

"Little drops of taxes create a mighty nation. E-levy will bring the massive development we all want as a country," the Ministry of Finance has said in a Twitter post.

The government will from May 1, 2022, charge a 1.50% rate on the E-levy that are more than GH¢100 on a daily basis.

The levy was passed at a reduced rate of 1.5% from the initial 1.75% amid a Minority walkout.

However, the President assented to the E-levy Bill on Thursday, March 31, 2022, despite a challenge at the Supreme Court by the Minority in Parliament against its passage.

He believes criticisms against the passage of the controversial tax are unfounded, as countries affected by the pandemic equally resorted to unpopular measures to revive the economy.

According to him, "The world is going through very difficult times. Ghana is no exception, Nigeria is no exception. There is no country in the world that has escaped the ravages of COVID-19… What you need to look at is the elements being put on the ground that looks beyond the Russia Ukraine war."

"The economy has gone through very difficult times. I can quote statistics of the US and UK economies, but they will not serve a purpose. It is a phenomenon that is going on which has made life difficult," he said.