TIG Post

Tag: E-levy

  • E-Cedi must be implemented to forestall disruptions in payment space BoG

    The Bank of Ghana (BoG) has noted that in recent years, the idea of issuing digital currencies by central banks has been topical around the globe.

    The BoG said it is one of the first few African central banks which declared its intention to pilot a Central Bank Digital Currency (CBDC) within the framework of its financial sector digitization program and the overall digitization agenda of the Government of Ghana.

    From the point of the CBDC classification, the BoG said, the digital Cedi (or the eCedi) is a retail token-based CBDC.

    This is a value-based approach that implies an eCedi that represents a token, or a digital value note. Payment is done by transferring the value note from one person to another.

    The concept is similar to cash payment transactions, where payment is done by transferring banknotes and/ or coins from person A to person B.is particularly important that the eCedi is implemented to forestall disruption to the existing payment space.

    For this reason, the eCedi will be integrated into the existing interbank payment systems and mobile money interoperability platform operated by the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS).

    In its report titled “Design Paper of the digital cedi”, the BoG said “The eCedi has to be accessible to everyone and any part of the country. The absence of mobile data networks in the rural areas of Ghana should not serve as a barrier to the use of the eCedi. In other words, the eCedi should work effectively in both online and offline environments.

    “Speed of payment is very important from a consumer`s perspective. The transfer of funds from a payer to a payee should be near-instant, easy to confirm and traceable. Both the sender and receiver should receive a confirmation of a successful transaction. Similar to cash, an eCedi transaction will be free of charge to consumers.

    “By this approach, the eCedi would be a strong contender of cash, promote competition in the payment market and facilitate the provision of innovative value-added services to individuals and businesses by banks and payment service providers at affordable fees and charges.

    “It is particularly important that the eCedi is implemented to forestall disruption to the existing payment space. For this reason, the
    eCedi will be integrated into the existing interbank payment systems and mobile money interoperability platform operated by the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS).

    “In the era of globalization, it is important that domestic CBDCs are designed with the prospects of adaptation for interoperability with CBDCs of other jurisdictions. Efforts to accelerate the integration of the economies of African economies, particularly under the African Continental Free Trade Area (AfCFTA) makes this a key consideration in the eCedi design. The eCedi takes into consideration CBDC standards, making it possible for Ghana to participate in international projects on cross border CBDCs.”

    Source: 3news.com

  • E-levy: Ghana hard but we can’t stop paying taxes -Analyst

    Political analyst Mr. Boakye Yiadom has admitted that Ghana is currently facing challenges with citizens complaining of economic hardship.

    But it does not mean we have to stop collecting taxes to develop the country, he added.

    Reacting to the passage of the E-Levy, he said we are currently experiencing the aftermath of the COVID-19 outbreak and the ongoing Russian and Ukraine war.

    However, we cannot stop collecting taxes.

    “We need the taxes to pay workers, construct roads, provide portable drinking water and that is why the passage of the E-Levy is good.

    “What Ghanaians must do is hold the government to account and ensure that the taxes collected from the levy are used for the intended purpose. We have a responsibility as Ghanaians to pay our taxes and then demand accountability from our leaders”.

    “We cannot rule the country without taxes. We have to support the government,” he stressed.

    He asked the Minority to let go and forget about their court case.

    He said if they were against it and the government found a way to pass it, they should let go and forget about going to court.

    Source: rainbowradioonline.com

  • Heated exchange in Parliament as Minority accuses Akufo-Addo of constant breach of law

    Tempers flared up in Parliament today after the Minority accused President Akufo-Addo of being in constant breach of the law despite his much-touted status as an advocate of the rule of law.

    North Tongu, MP Samuel Okudzeto Ablakwa, insists that President Akufo-Addo has not complied with a constitutional provision to furnish Parliament with the annual report on the staff at the presidency.

    This, he said, is in breach of the Presidential Office Act and “undermines the authority of this institution.”

    The MP believes that it is unbecoming of “a President who likes to project himself as a paragon of the rule of law to be violating the laws of our country in this manner.”

    Deputy Majority Leader Alexander Afenyo-Markin, who was incensed over the description, called on his colleague NDC MP to withdraw the words.

    He described the comments as unacceptable and demanded that they be withdrawn.

    “You cannot do that…Stop misbehaving…Ablakwa, you will withdraw it…You cannot say that about the President,” he responded.

    The demand threw the house into chaos as members from both sides argued on top of their voices.

    Source: Myjoyonline.com

  • I saw how Ahanta MP was brought in an ambulance – Speaker

    The Speaker of Parliament, Alban Bagbin, has confirmed speculations that the Member of Parliament for Ahanta Constituency was brought to Parliament in an ambulance on the day E-Levy was approved in the chamber.

    The Speaker’s comments come after Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, asked why the Ahanta MP was marked present when he was not seen in the chamber.

    In response, the Speaker said, “I saw how Ahanta West MP and Chieftaincy minister, Ebenezer Kojo-Kum was brought to Parliament in an ambulance”.

    There were suspicions that the Member of Parliament for Ahanta West, Ebenezer Kojo, was conveyed to Parliament on Tuesday, March 29, 2022, when the House was due to approve the controversial E-Levy today.

    This suspicion is a result of the arrival of an ambulance in Parliament on the said day.

    The scene that was captured on video shows a paramedic behind a wheelchair at the entrance of the ambulance.

    Though the video is not long enough to show anyone being brought out of the ambulance, some persons have taken to social media to reveal that the Ahanta West MP who has been bedridden for months was the person on board.

    Source: www.ghanaweb.com

  • Akufo-Addo assents to E-Levy bill, makes it law

    President Nana Addo Dankwa Akufo-Addo has assented to the E-Levy bill which was approved by Majority side in Parliament on Tuesday, March 29, 2022.

    The action taken by the President today, Thursday March 31, 2022 means the bill can now be passed into law.

    This follows its approval in Parliament on March 2022 in the absence of the Minority in Parliament who staged a walk-out during the consideration stage.

    The bill was approved after its third reading, with the Speaker of Parliament, Alban Bagbin, in the seat.

    The Minister for Finance, Ken Ofori-Atta, on Tuesday, March 29, 2022, moved a motion in Parliament, asking the House to approve the second reading of the reviewed 1.5% E-Levy bill to advance its passing into law.

    The debate on the motion was divided between the Majority and Minority, who argued entrenched positions on the bill.

    While the Minority maintained their opposition to the bill, members of the Majority argued in favour of the E-Levy, tagging it as essential for revenue mobilization and development.

    The Majority leader, Haruna Iddrisu during his submission on the bill informed the presiding Speaker of a decision by his side to abstain from supporting the bill.

    “In conclusion we are not able to support the Electronic Transaction or Electronic Transfer Levy of 1.75%. we think that it is regressive, it smacks of double taxation and the people of Ghana should not suffer further taxes, financial institutions and banks should not be made to pay E-Levy.

    “Therefore, Mr Speaker I am serving you notice, I have listened, my colleagues have listened to me. Mr Speaker, because we do not support the E-Levy, the Minority group led by me after listening to the majority leader will not be associated with any further proceedings on the E-Levy. We want to be recorded that when the E-Levy was brought to the 8th Parliament, we stood together, we opposed it, we asked for its rejection and we said we would not support it,” the Minority Leader said.

    President Akufo-Addo has signed the E-levy Bill into law

    Following his announcement, the Minority trooped out of the chamber.

    The Majority Leader who was scheduled next to make his final statement on the debate, waived the opportunity and impressed on the Speaker to go ahead and put the second reading to a vote for adoption.

    Speaker Alban Bagbin who was presiding over proceedings went ahead to put the second reading of the E-Levy to a voice vote which was given in favour of the Majority who were the only side in the chamber and shouted for the adoption.

    The House, following the adoption, went ahead unto the consideration stage of the bill also without the presence of the Minority.

    Source: www.ghanaweb.com

  • ATM withdrawals not included in E-Levy

    The Finance Ministry has stated that ATM withdrawals will not attract the 1.5% charge on electronic transfers.

    Also, same person transactions will not attract the E-Levy.

    The E-Levy is a tax imposed on electronic transfers charged at the time of transfer. The levy shall be administered by the GRA and collected through licensed Banks, Specialised Deposit-Taking Institutions, Payment Service Providers(PSPs), and Electronic Money Issuers (EMIs).

    According to the Finance Ministry, this is to help widen the tax net and also afford Ghanaians the opportunity to contribute to nation-building.

    In a document, explaining which transactions or otherwise the E-Levy will affect, the Finance Ministry noted Loan repayments will not attract the Levy if the recipient is registered with the GRA for Income Tax or VAT. “Otherwise, the sender will pay the E-Levy.”

    It also stated that salary payments from corporate bank accounts which are registered with the GRA for income tax or VAT, will be exempted from E-Levy.

    Here is the full document

     

    Source: www.ghanaweb.com

  • I’m surprised Bagbin didn’t check for quorum before passage of E-Levy Ayariga

    Bawku Central MP Mahama Ayariga says the minority caucus in parliament is surprised that Speaker Alban Bagbin did not check whether there was a quorum before the E-Levy was passed.

    The MP (Member of Parliament), in a JoyNews interview monitored by GhanaWeb, said that the minority caucus was expecting the Speaker of Parliament to check if there was a quorum in the House for business to be conducted when they walked out of the House because he had previously done so.

    “Remember that when the majority, not too long ago, on the day for the passage of the budget, decided to walk out, what did the Speaker do? He said I want to find out whether we have a quorum so that we continue transacting business and then he counted minority members in the chamber. We were 137, and he felt that there was a quorum to continue transacting business relying on the provisions of Article 102.

    “So, we assumed that the legal position will be that when we walk out, anybody who wants to transact business will also check; the minority side having walked out, there should be at list 138 people to conduct business,” he said.

    Also, Ayariga indicated that there was no need for any of the minority MPs to be present to object to the passage of the levy, saying, “when the majority walked out when we (the minority) voted against the budget, no objection was raised, and it was the same Alban Bagbin who was presiding over the House. It was the Speaker, on his own, who after the majority had walked out, decided to check if there was a quorum.”

    Meanwhile, the minority caucus in parliament has indicated that the bill’s passage was illegal, citing the lack of a quorum.

    According to the Minority Leader, Haruna Iddrisu, the House did not have the numbers to decide on the passage of the bill. He believes the recent Supreme Court ruling has been violated.

    “The House had less than 137 in the chamber. They only proceeded in illegal business,” he said.

    Mahama Ayariga, Haruna Iddrisu and Samuel Okudzeto Ablakwa have filed a suit at the Supreme Court, asking the court to declare the approval of the levy null and void.

    Source: www.ghanaweb.com

  • MPs cry in Parliament after being marked absent on E-Levy consideration day

    Some Members of Parliament whose names were not captured as part of attendees during Tuesday’s proceedings in Parliament, have raised concerns.

    According to the MPs, the absence of their names has courted attacks from constituents who have criticized them for being absent on a critical day E-Levy was being considered.

    Speaking on the floor of Parliament, the Minority Chief Whip, Mohammed-Mubarak Muntaka said the action has cost them a lot.

    According to him, some members of the House have, following this, even called for the removal of the Minority leadership, citing their failure to ensure their names were captured.

    Muntaka further accused the Clerk of being partisan.

    Member of Parliament of Zebilla East, Cletus Avoka, whose names were part of those captured as absent, on his part said he has been traumatized. According to him, his constituents have, following reports, called to slam him for being absent on an important day when the E-Levy was being considered.

    He said even though he approached the table to write his name, he was told by the table of Office to sit and that they were going to bring the list to him but they never did.

    MP of Ablekuma Central who also claims to be a victim described the action as a diabolic and deliberate attempt to mark him absent.

    MP for New Edubiase, Abdul-Salem Adams also said his name must be cleared as he has been accused of taking bribe to be absent for the E-Levy to be passed.

    They called on the Speaker to make the amendment to reflect the true report of the Votes and Proceedings of the House on March 29,2022.

    Source: www.ghanaweb.com

  • E-Levy approval: We elected to stand with the Republic Majority leader

    Majority Leader in Parliament, Osei Kyei-Mensah-Bonsu, has stated that the Majority caucus passed the E-Levy for the good of the country.

    According to him, Parliament had to pass the levy to help the country get out of the current economic challenges including the depreciation of the Cedi, myjoyonline.com reports.

    “For us, we recognize that it is important to stand with the people, the people may not get it right all the time, but the state remains the state and the Republic remains the Republic, so we have elected not only to stand with the people but much more importantly, much more enduringly, to stand with the Republic.

    “I think that given the circumstance of the time, where we are as a nation and given what is happening to the economy, the depreciation of the cedi and the international developments which is triggering an escalation of prices of the local cedi, we need not only to stand with the people of this country but as well, the state to ensure the viability of the Republic,” he told the media.

    Parliament on March 29, 2022, passed the E-Levy bill after the Minority caucus in Parliament walked out of the House, saying they will not participate in the passage of the bill.

    Before the passage of the bill, the Minister for Finance, Ken Ofori-Atta, moved a motion asking the House to approve the Second Reading of the levy whose rate was reviewed from 1.75% to 1.5%.

    Meanwhile, the Minority caucus in Parliament has indicated that the passage of the bill was illegal citing the lack of quorum.

    According to the Minority leader, Haruna Iddrisu, the House did not have the numbers to decide on the passage of the bill for which reason he believes the recent Supreme Court ruling has been violated.

    “The house had less than 137 in the chamber. They only proceeded in illegal business,” he said.

    Source: www.ghanaweb.com

  • Minority stages walkout as parliament approves second reading of E-Levy bill

    Parliament approved the second reading of the Electronic Transactions Levy, albeit without the final participation of the minority side, who staged a walkout right before the question was put before the house.

    The Minister for Finance, Ken Ofori-Atta, on Tuesday, March 29, 2022, moved a motion in parliament asking the house to approve the second reading of the proposed 1.5% E-Levy bill to advance its passing into law.

    The debate on the motion was divided between the majority and minority, who argued entrenched positions on the bill.

    While the minority maintained their opposition to the bill, members of the majority argued in favour of the E-Levy, tagging it as essential for revenue mobilization and development.

    The Majority leader, Haruna Iddrisu during his submission on the bill informed the presiding Speaker of a decision by his side to abstain from supporting the bill.

    “In conclusion we are not able to support the Electronic Transaction or Electronic Transfer Levy of 1.75%. we think that it is regressive, it smacks of double taxation and the people of Ghana should not suffer further taxes, financial institutions and banks should not be made to pay E-Levy.

    “Therefore Mr Speaker I am serving you notice, I have listened, my colleagues have listened to me. Mr Speaker, because we do not support the E-Levy, the Minority group led by me after listening to the majority leader will not be associated with any further proceedings on the E-Levy. We want to be recorded that when the E-Levy was brought to the 8th Parliament, we stood together, we opposed it, we asked for its rejection and we said we would not support it,” the minority leader said.

    Following his announcement, the minority trooped out of the chamber.

    The majority leader who was scheduled next to make his final statement on the debate, waived the opportunity and impressed on the speaker to go ahead and put the second reading to a vote for adoption.

    Speaker Alban Bagbin who was presiding over proceedings went ahead to put the second reading of the E-Levy to a voice vote which was given in favour of the majority who were the only side in the chamber and shouted for the adoption.

    The house following the adoption went ahead unto the consideration stage of the bill also without the presence of the minority.

    Source: www.ghanaweb.com

  • E-Levy finally passed

    After months of backs and forths in parliament with regards to the controversial Electronic Transactions Levy (E-Levy), parliament has passed the bill. 

    This was after the House considered the bill after its third reading, with the Speaker of Parliament, Alban Bagbin, in the seat. 

    Earlier, the Minority in Parliament staged a walkout right before the question was put before the house.

    The Minister for Finance, Ken Ofori-Atta, on Tuesday, March 29, 2022, moved a motion in parliament asking the house to approve the second reading of the reviewed 1.5% E-Levy bill to advance its passing into law.

    The debate on the motion was divided between the majority and minority, who argued entrenched positions on the bill.

    While the minority maintained their opposition to the bill, members of the majority argued in favour of the E-Levy, tagging it as essential for revenue mobilization and development.

    The Majority leader, Haruna Iddrisu during his submission on the bill informed the presiding Speaker of a decision by his side to abstain from supporting the bill.

    “In conclusion we are not able to support the Electronic Transaction or Electronic Transfer Levy of 1.75%. we think that it is regressive, it smacks of double taxation and the people of Ghana should not suffer further taxes, financial institutions and banks should not be made to pay E-Levy.

    “Therefore Mr Speaker I am serving you notice, I have listened, my colleagues have listened to me. Mr Speaker, because we do not support the E-Levy, the Minority group led by me after listening to the majority leader will not be associated with any further proceedings on the E-Levy. We want to be recorded that when the E-Levy was brought to the 8th Parliament, we stood together, we opposed it, we asked for its rejection and we said we would not support it,” the minority leader said.

    Following his announcement, the minority trooped out of the chamber.

    The majority leader who was scheduled next to make his final statement on the debate, waived the opportunity and impressed on the speaker to go ahead and put the second reading to a vote for adoption.

    Speaker Alban Bagbin who was presiding over proceedings went ahead to put the second reading of the E-Levy to a voice vote which was given in favour of the majority who were the only side in the chamber and shouted for the adoption.

    The house following the adoption went ahead unto the consideration stage of the bill also without the presence of the minority.

    Source: www.ghanaweb.com

  • E-Levy: Speaker suspends sitting for 30 minutes

    The Speaker of Parliament, Alban Bagbin, has suspended sitting of Tuesday, March 29, 2022, for 30 minutes. 

    The House is considering the re-laid Electronic Transactions Levy (E-Levy) after initial hiccups with the controversial bill.

    The Minister of Finance, Ken Ofori-Atta, is in parliament as part of the government’s attempt to get the E-Levy passed into law.

    Ken Ofori-Atta is set to move the motion for the 2nd reading of the E-levy Bill, sources close to GhanaWeb have said.

    There are also unconfirmed reports that all Members of Parliament, including those who are sick, are in the House to vote on the bill, if need be.

    At a press conference on March 24, 2022, Ken Ofori-Atta, stated that the government would impress on parliament to pass the Electronic Transactions Levy (E-Levy) Bill before the House goes on recess.

    According to the minister, the implementation of the E-Levy forms part of revenue mobilisation efforts that will complement the expenditure reduction measures the government is undertaking to help get Ghana out of the current economic hardships.

    “It is already there; we are just going to continue discussions, and God willing, we are going to get it passed. It is in the parliament system … parliament rises on April 4th or 5th, so we have got some critical 14 or 15 days to make it happen.

    “And I think after these town hall meetings, I understand what the Ghanaian people want,” he said.

    It must be noted that Members of Parliament on the Minority side have shown their disinterest in the E-Levy, vowing to reject it at all cost.

    Source: www.ghanaweb.com

  • E-Levy not an option, consider best IMF programme to rescue Ghana Apaak to government

    The Member of Parliament for Builsa South, Dr Clement Apaak, has said government is better off debating which IMF programme will rescue the nation and give policy credibility rather than thinking about reintroducing the E-levy in any form, which according to him, is not an option.

    According to Dr Apaak, the Minority will support the government if it decides to seek help from the IMF but will continually oppose the E-levy.

    In a Facebook post, he reminded President Akufo-Addo that he would have the embarrassing record of not presenting the State of the Nation Address (SONA) in February as has been the trend with all past Ghanaian leaders.

    His post read: “Government Crisis Retreat – What is there to debate? KILLER E-LEVY is not an option. They are better off spending their retreat time at Peduase debating amongst themselves the best IMF programme that will rescue the nation and give policy credibility.

    “With seeking the support of the IMF, they have the mandate, with KILLER E-LEVY, they don’t. Let no one deceive them at Peduase, it is still 137 No votes against E-levy any day it comes to the floor of Parliament resurrected, revived or resuscitated.

    “While at their retreat, they should not forget that SONA, a constitutional obligation, is yet to be fulfilled. In fact, from 2017 to 2021 NADAA presented SONA in the month of February as did his predecessors. It is clear that NADAA will have the embarrassing record of NOT presenting SONA in February in the history of the 4th Republic.”

    Meanwhile, Information Minister Kojo Oppong Nkrumah has announced that Cabinet has concluded its deliberations on ways to revive the economy and President Nana Akufo-Addo has taken some decisions aimed at mitigating the impact of the global economic difficulties on Ghana.

    To this end, he said: “Finance Minister Ken Ofori-Atta will provide details of these measures later this week after consultations with key social and economic stakeholders”. 

    “In addition to the scheduled appraisal of the performance of government programmes, Cabinet also extensively discussed the impact of global economic difficulties on Ghana and the Ghanaian people”, a statement from Mr Nkrumah noted.

    It added that President Nana Akufo-Addo approved “far-reaching” measures aimed at “mitigating the depreciation of the cedi, ensuring expenditure discipline and providing relief in the face of global fuel price hikes and inflation; as well as ensuring that priority programmes meant to grow the economy are protected”.

    The statement said the “government appreciates the efforts of all who contributed to a successful retreat and looks forward to the support of all Ghanaians in implementing the agreed measures.”

    Source: classfmonline.com

  • 81.6% of respondents want E-Levy Bill cancelled Survey

    A survey conducted by the Center for Economics Finance and Inequality Studies has showed that some 81.6 percent of respondents want the proposed Electronic Transaction Levy cancelled and never introduced by the government. 

    According to results from the survey captured on JoyBusiness, 36.4 percent of the respondents on their part, had no knowledge about the tax measure whereas 1,679 out of the 2,650 had knowledge about the E-Levy. 

    In addition to the results from the portal, 13.5 percent of the respondents sampled were of the view the E-Levy should be passed into law and implemented by government. 

    Meanwhile, a small portion of 4.9 percent of respondents held the view that the E-Levy should be passed next year in 2023. 

    The survey was conducted by Professor Anthony Amoah of the University of Environment and Sustainable Development and Dr. Benjamin Amoah of the University of Ghana Business School. 

    Results of the survey counted on Google Online Forms for data collection, of which respondents were automatically restricted to one entry only.

    Meanwhile, President Nana Addo Dankwa Akufo-Addo has insisted the passage of the tax measure, also known as the E-Levy, is critical to fill revenue gaps. 

    He contended that the economy has been ravaged by the COVID-19 pandemic which requires the implementation of key tax measures to sustain the economy. 

    But since the announcement of the E-Levy in November last year in parliament by the finance minister [Ken Ofori-Atta], there has been widespread backlash and condemnation over the tax measure. 

    Lawmakers in Parliament and a cross-section of the public have also kicked against the proposed E-Levy and described it as one that is regressive and would place more burden on the ordinary citizen.


    Source: www.ghanaweb.com

  • We currently don’t have the numbers to pass E-Levy – John Kumah

    Deputy Finance Minister, John Ampontuah Kumah has stated that government will need the support of the minority caucus in parliament to implement the E-Levy.

    According to him, the majority caucus in parliament does not currently have the numbers to pass the E-Levy bill.

    “The minority is not in support of the E-Levy, and given the current structure of parliament, if we do not get both sides to agree, it would be difficult to pass the E-Levy bill.

    “We have not been able to raise the members to pass the bill. So, we are currently negotiating. As we speak, the Council of State has entered the discussion and has engaged the minority. We urge religious leaders, all Ghanaians and everyone concerned about the finances of the country to put politics aside for the sake of the country,” he said in Twi during an interview with Neat FM, monitored by GhanaWeb.

    “If we get the support of everybody, we will present it for parliament to pass it. The result of the 2020 election shows that the people of Ghana want us to work together,” he added.

    “If you have equal members and one side is not in agreement, then you must have the patience to engage more till we are all on the same page,” he said.

    John Kumah, who is also the Member of Parliament for Ejisu, clarified that the government could pay public servants even if it cannot implement the E-Levy, contrary to claims by the Speaker of Parliament, Alban Bagbin.

    He, however, noted that the levy is needed for other important government expenditures, including the construction of infrastructural projects and the government’s job creation initiatives.

    Source: www.ghanaweb.com

  • ‘If something is not done within three months, government may not even be able to pay salaries’ – Bagbin hints

    Speaker Alban Bagbin has told Members of Parliament that information available to him indicate that if something is not done in the next three months, the government may not be able to pay the salaries of workers.

    Speaking to the MPs in the chamber, Alban Bagbin said, the government may struggle to honour some financial obligations, therefore, they must show leadership. 

    “Honourable members, the information at my disposal, this is not something to discourage the committees from doing their work, if something is not done within the next three months government may not even be able to pay salaries. 

    “So, we have to take leadership, we have to do a lot of things. With this the House is accordingly adjourned to Friday,” he said in Parliament on Thursday, February 24.

    It is unclear what constitutes this forecast as the Speaker fell short of giving further details of the “information at my disposal.”

    But this comes amid ongoing consultation by the government to get the controversial Electronic Transfer Levy (E-Levy) bill passed, growing agitation within industrial unions over working conditions and calls for improved standards of living.

    Source: www.ghanaweb.com

  • Ghana is ‘broke’, support E-Levy Ken Ofori-Atta

    Minister of Finance, Ken Ofori-Atta, has admitted to the dire economic challenges Ghana is faced with. 

    According to him, the nation currently is unable to undertake or continue developmental projects, implement salary increments due to a lack of funds. 

    Making his submission at a Government Town Hall meeting in Wa on Monday, February 21, Ken Ofori-Atta underscored the need for Ghanaians to accept the Electronic Transactions Levy (E-Levy) in order for government to fill revenue gaps and increase development.  

    “I look at teachers and civil servants for example, and I will be the first to admit that the salaries are indecent, nobody will argue with that. At the same time, it is 60 percent of all the revenue we collect from 700,000 people [go into salary payment,] that is also a fact,” Ken Ofori-Atta stated. 

    “So yes, there is a legitimate demand for more and there is a legitimate reality that there is no money. So, what do we do as a society? Then you ask me to give you more salary, which is fine, then I say, but it is your colleague civil servants who collect the money, so how can you responsible for collecting the money, not collect it and then tell me to give you the money. That will be another issue,” he added. 

    Since the announcement of the E-Levy, government has insisted the tax measure is necessary to generate some GH¢6.9 billion in revenue for Ghana in 2022.
    Although a decision to approve the E-Levy is yet to materialize in Parliament, the Minority caucus has vowed to kick against approving the E-Levy citing it will place more hardship on the ordinary citizen. 
    Also, a cross-section of the public has bemoaned the introduction of the tax measure. 

    The E-levy is a new tax measure introduced by government in the 2022 Budget on basic transactions related to digital payments and electronic transactions aimed at widening the tax net and increasing revenue. 

    The tax measure, if approved, would place a charge of 1.75 percent on all electronic transactions that are more than GH¢100 daily (24 hours).
    This will cover mobile money payments, ATM withdrawals, inward remittances among others.

    Source: www.ghanaweb.com

  • Akufo-Addos office alone is seeking half of E-levy profit Sam George

    Member of Parliament for Ningo Prampram Samuel Nartey George has said a chunk of the revenue that the government is targeting from the E-levy will be going to the office of government machinery.

    He said President Nana Addo Dankwa Akufo-Addo is demanding half of the expected revenue to his office alone.

    He told Johnnie Hughes on the New Day show on TV3 Monday, February 21, that the government is targeting to raise ¢5.5billion from the E-levy.

    “Half of the E-levy is going to Office of the Government Machinery; his office is taking half of the E-levy,” he said.

    The government seeks to approve the E-levy policy proposal in the 2022 budget statement. However, the proposal has met stiff opposition from the Minority in Parliament and a section of the Ghanaian public.

    The Finance Minister, Ken Ofori-Atta, is still surprised at the dissenting voices because, in his view, the proposal will propel development.

    He, however, expressed optimism that the policy would be approved, but if it does not go through, the government will turn to the petroleum sector for revenue.

    Asked what the alternative is, in the event the E-levy fails, while speaking to journalists at a function in Accra on Friday, February 18, he said, “There are always many alternatives, but really, you are looking at the future, and you are looking at ways we can solve the issue of the increased revenue and everybody participating.

    “The challenge is, for example, assuming you earn a million cedis a year and you transfer all of that through MoMo. What am I asking of you? ¢15,000. Is that what you have been fighting against? Or if you are a student and assuming you earn 100,000 cedis, which is unlikely, that means what, a 1500 cedis.

    “So you then begin to ask the question, what is it that we are fighting against? And if I have also said the first hundred cedis will not be a part of it which means 3000 monthly income.

    “The alternatives are many; you can go into petroleum, but is that really what you want? The mood of the country is different from the arithmetic in Parliament, and that is why I have gone around.”

    Mr Ofori-Atta had earlier ruled out returning to the International Monetary Fund (IMF) for support to deal with the challenges that the local economy is going through at the moment.

    Speaking at the 3rd Townhall meeting on the E-levy on Thursday, February 10, at the Radache Hotel in Tamale in the Northern Region, he indicated that returning to the Bretton Woods Institution would have dire consequences.

    The government was called upon to return to the IMF for support instead of relying on the proposed E-levy for revenue.

    For instance, a former Member of Parliament for New Juabeng South, Dr Mark Assibey-Yeboah, believed that a return would rescue Ghana’s struggling economy.

    “Without a doubt, I think we should be placing a call to Washington if we haven’t done that. We are just not going to ask for the funds just because E-levy has been passed or not. E-levy will just bring about GH¢5 billion. We are in a deep hole in our tax revenue and facing difficulties, so going to the Fund will give us some support.

    “So there is nothing wrong with going to the Fund. Ghana is a member of the IMF, so what is wrong going to ask for support when we are in difficulties to go and pool resources. If I was the finance minister, I would be convincing the President that it is about time we went back,” he told Citi.

    Mark Assibey Yeboah also added that the revenue expected to be accrued from the E-levy is to ensure the economic stability government is eyeing.

    He further cast doubts on the government’s ability to raise the projected GH¢6.9 billion target, saying the government’s maximum from the controversial e-levy is GH¢5 billion.

    “The GH¢6.9 billion target cannot be realized. There are a lot of exemptions, so, in my estimation, the maximum amount we can get from the E-levy is GH¢5 billion, and that is less than a billion dollars, so I do not think that the E-levy is going to be a panacea to our revenues. Going to the IMF will ensure some stability, and above all, we are going to get some $3 billion”.

    The General Secretary of the National Democratic Congress (NDC), Asiedu Nketia, also made a similar call to the government.

    Asked whether President Nana Addo Dankwa Akufo-Addo should go to the IMF, while speaking on the New Day show on TV3 on Monday, February 7, he answered, “I think it is something that they have to consider. If it is the only [way] that will take us out of this problem, then the earlier, the better.”

    But Mr Ken Ofori-Atta, who had earlier stated that the government would not go back to the IMF, insisted that “I can tell you, as my colleague deputy said, we are not going back to the IMF, whatever we do we are not [going back]. The consequences are dire; we are a proud nation, we have the resources, we have that capacity, don’t let anybody tell you we are not people of short-sighted, we need to move on.”

    Source: 3news.com

  • E-Levy: Their track record does not support what they want to use funds for – Sam George


    The Member of Parliament for Ningo-Prampram, Sam Nartey George, has stated that the New Patriotic Party (NPP) and Nana Addo Dankwa Akufo-Addo have failed to earn the trust of Ghanaians in the management of the public purse. 

    He explained that in the real sense of the word, the NPP has not proven to Ghanaians why they should continually help it make money that never gets used for what they were promised. 

    Speaking to GhanaWeb on the sidelines of the Yentua Demonstration that was organized by the youth wing of the National Democratic Congress (NDC) and other groups to register their abhorrence to the controversial 1.7% Electronic Transaction Levy (E-Levy), he said the explanations being given by the government do not suffice. 

    “First and foremost, they say they’re going to use the E-Levy to build hospitals. How many hospitals has he built from the 300 billion he’s borrowed? You had Year of Roads 1, Year of Roads 2, how many roads were built? How much can less than a billion dollars do for us in terms of hospitals and roads? It’s impossible!

    “And so, when they tell you that this is going to be used to do infrastructure, it is not true: their track record does not support what it is that they claim they’re going to use the money for,” he said. 

    Sam Nartey George further explained that the more reason the NPP cannot be trusted with the E-Levy is because they have not shown faith with how earlier funds were managed. 

    “We have seen similar funds, we have seen the dissipation of road funds, we have seen the abuse of those funds. We cannot trust the NPP; they do not have a track record of trust when it comes to [the] management of the public purse,” he said. 

    Thousands of Ghanaians spotting red colours poured onto the streets of Accra on Thursday, February 10, 2022, to participate in the march through some principal streets of Accra. 

    The march ended at the Parliament House of Ghana, where a petition was presented to the Speaker of Parliament but was received on his behalf by the Majority Chief Whip and the Minority Leader in Parliament, Frank Annoh-Dompreh and Haruna Iddrisu, respectively.

    Source: www.ghanaweb.com

  • E-levy will no longer be withdrawn Majority

    The Majority in Parliament has backtracked on an earlier announcement in the business of the House that the Finance Minister will withdraw and reintroduce the Electronic Transfer Levy Bill.

    At the end of the business week on Friday, February 4, the statement read: 

    “Finance Minister has therefore given indication after his nationwide engagement with the citizenry on the Bill of the likelihood of the withdrawal of the Bill and the reintroduction of same on Friday, 11th February 2022 barring any unforeseen circumstances.

    “Speaker, after the withdrawal and reintroduction of the Bill, the Business Committee would programme the Bill for consideration during the course of the Fourth Week of this meeting and members are therefore encouraged to participate fully in the consideration of the Bill for the passing of good piece of legislation for the benefit of all,” the Deputy Majority Leader, Alexander Afenyo-Markin had said.

    The Effutu Member of Parliament on Friday, February 11 said this will no longer be the case as advertised.

    Besides, Minister of Finance Ken Ofori-Atta is still on tour with the regional townhall meetings on the e-levy, he hinted.

    Source: 3news.com

  • Demonstration against E-Levy to be held today

    The Police have released details of the NDC Youth-led Yentua Demonstration which is to protest the introduction of the E-levy Bill.

    According to the Accra Regional Police Command, the demonstration which is to be held today, Thursday, February 10, will be afforded the necessary security detail to prevent any mishap.

    The demonstrators are expected to converge at the Obra Spot where the march will commence through the Kwame Nkrumah Avenue through Farisco, Striking Force, the Kinbu Road, the Octagon, the National Theatre through the AU Roundabout and finally end at the Parliament House.

    The Motor Transport and Traffic Department (MTTD) will deploy personnel to assist with traffic management.

    “The general public is hereby encouraged to cooperate with the Police to ensure an incident-free demonstration,” the Police said in their statement.

    Meanwhile, organisers and demonstrators taking part in the demonstration have been advised to observe the necessary Covid-19 protocols.

    Source: MyJoyOnline.com

  • All road contractors will be paid if E-Levy is passed Amoako-Atta

    Roads and Highways Minister Kwesi Amoako-Atta has promised road contractors that their outstanding debts will be paid in full if the controversial e-levy is passed.

    “When the E-levy is implemented, the road sector will get its fair share. All contractors owed by the government will be paid. A number of deplorable roads will be fixed when the E-Levy is introduced because all contractors we owe will be paid.

    “You are going to benefit directly from its implementation. No serious government will joke with its contractors,” the Minister told the leadership of the Road Contractors Association in a meeting on Monday.

    The Minister also hinted booths that were used for the collection of tolls in the recent past would be used for places of convenience following concerns by the roads safety commission.

    “We even want to refurbish all those toll booth structures to provide proper and decent washrooms for use by motorists to avoid situations where motorists stop to ease themselves indiscriminately.”

    The E-levy has been heavily challenged by the opposition NDC MPs and a section of Ghanaians.

    Source: starrfm.com.gh

  • Majority of Ghanaians against E-levy; listen to them Emile Short to government

    A former Commissioner on Human Rights and Administrative Justice (CHRAJ), Justice Emile Short, has called on the government to pay heed to the majority of Ghanaians’ views regarding the passage of the controversial E-levy.

    According to Mr Short, most Ghanaians have kicked against the levy’s passage and, therefore, the government must do as the people want.

    Speaking in an exclusive interview with Kofi Oppong Asamoah on the Class Morning Show on a myriad of issues on Class91.3FM, Tuesday, 8 February 2022, Mr Short insisted the government must listen to the view of Ghanaians.

    He said: “I think the majority of Ghanaians from a survey that I read are against the e-levy and it is my view that government should listen to the views and opinions and voices of the majority of Ghanaians on this issue because I think the majority of Ghanaians think that they will be adversely affected by the passing of this e-levy legislation since a lot of electronic transactions are done by quite a sizeable number of Ghanaians.

    “So I’m hoping the government will listen to the views of the majority of Ghanaians. I don’t think the views and argument the government has put forward for the e-levy have been supported by the majority of Ghanaians.”

    Touching on the ongoing e-levy debate in parliament, Mr Short described as “unfortunate” the extent of anger that led to a brawl among legislators in parliament. 

    “First, it’s unfortunate that a brawl broke out in parliament arising out of a discussion on the e-levy, and there were fisticuffs as well as invectives being thrown at each other by the two dominant political parties,” he said.

    “The expectation of the electorates from the close results of the 2020 elections where we have a hung parliament with an almost equal representation of the two dominant parties was that they will work together, they’ll collaborate and arrive at a consensus as supposed to the previous situations where one party had a dominant representation. Unfortunately, that expectation has not been fulfilled. It’s unfortunate we are seeing this animosity between the two parties about the e-levy,” he bemoaned.

    Source: classfmonline.com

  • E-levy vote to take place in last week of February – Afenyo Markin

    Mr Ken Ofori-Atta, the Minister of Finance, has given indications that barring any unforeseen circumstances, he will withdraw the Electronic Transaction Bill (E-Levy) and reintroduce same in Parliament on Friday, 11th February, 2022.

    This was made known by Mr Alexander Kwamena Afenyo-Markin, the Deputy Majority Leader in Parliament, when he presented the Business Statement of the House for the weekend ending Friday, 11th February, 2022.

    He said the Minister of Finance had given indication after his nationwide engagement with the citizenry on the E-Levy Bill, of the likelihood of the withdrawal of the Bill and reintroduction of same on Friday, 11th February, 2022., barring any unforeseen circumstances.

    “In the event that, he is unlikely to withdraw and reintroduce the Bill on Friday, 11th February, 2022, he may do so on Tuesday, 15th February, 2022,” the Deputy Majority Leader stated.

    Mr Afenyo-Markin said after the withdrawal and reintroduction of the Bill, the Business Committee of the House would programme the Bill for consideration during the course of the Fourth Week of their Meeting.

    He urged Members of the House to participate fully in the consideration of the Bill for the passing of a good piece of legislation for the benefit of all.

    Source: GNA

  • Takoradi to host second E-Levy Townhall meeting on Wednesday

    After its first meeting on the Electronic Transactions Levy (E-Levy) at Koforidua in the Eastern region, the government is moving its Townhall meeting on the controversial levy to Takoradi. 

    Coming off exactly a week from the Koforidua edition, this public event is expected to receive engagements from people of all fronts to discuss the E-Levy and all its fallouts or concerns. 

    According to the government, these meetings are aimed at explaining the importance of the E-Levy to Ghanaians as well as taking feedback and inputs from relevant stakeholders on the levy, reports citinewsroom.com.

    It has also stated that, from these meetings, it hopes to gather feedback that will inform its implementation of the levy.

    Billed to speak at the Takoradi Townhall meeting on the E-Levy will be the Minister of Finance, Ken Ofori-Atta; the Minister of Information, Kojo Oppong-Nkrumah; the Western Regional Minister, Kwabena Otchere Darko-Mensah; the Central Regional Minister, Justina Marigold Assan; and the Member of Parliament for Sekondi, Andrew Egyapa Mercer. 

    So far, the E-Levy has been strongly fought against by mostly MPs on the Minority side of parliament, as well as several stakeholders in various sectors of the economy. 

    The levy is also yet to be presented by the government in parliament for further deliberations even though the Finance Minister, Ken Ofori-Atta, has announced a reduction to 1.5% from the original 1.75%.

  • Sell loss-making SOEs instead of E-Levy – Kofi Bentil advises government

    Public-spirited intellectual and Senior Vice President of policy think tank Imani Africa Kofi Bentil has advised the Government to raise revenue through the sale of 50% of loss-making State-Owned Enterprises (SOEs) rather than seek to implement the much controversial electronic transactions levy (E-Levy).

    His suggestion to the Government follows revelations that about 50% of SOEs posted huge losses for the 2020 fiscal year.

    About half of all State-Owned Enterprises (SOEs) posted a ¢5.3 billion loss in their operations in the 2020 fiscal year, the Finance Ministry reported.

    The solution to this, the Finance Ministry said, will be to cut support to any SOE that report losses.

    But in the opinion of Mr Bentil, selling them off will ensure that Government raises revenue as well as save money it normally doles out to these inefficient enterprises.

    “We should sell 50% of all SOEs. We will immediately make money and save money at once. And not need e-levy,” he recommended.

    The insistence of the Government on passing the E-Levy bill into law and implementing it continues to rile many, who maintain that the tax is needless and will only impose further hardship on ordinary citizens.

    Source: mynewsgh.com

  • E-levy: Arrogant NPP refusing to learn Martin Amidu

    The former Special Prosecutor, Martin Amidu, says the posture of the governing New Patriotic Party (NPP) on the rejection of the Electronic Transfer Levy (E-levy) amounts to arrogance.

    In his new article, Mr Amidu disclosed that Ghanaians had rejected the E-levy since its announcement in the 2022 budget and the subsequent debates in Parliament.

    “The Nana Akufo-Addo Government has in its usual arrogance, impunity, and abuse of power refused to learn any lessons from its unproductive escalatory conflict strategies and tactics, and the counter moves by the Minority in Parliament that inevitably resulted in the brawl in Parliament at dawn on 21 December 2021.”

    “When the First Deputy Speaker, Mr Joe Osei-Owusu, who was presiding over the plenary, sought to use a subterfuge to partake in the vote on the question whether the Electronic Transfer Levy Bill ought to be considered for enactment by the House under a certificate of urgency,” he disclosed.

    The former Attorney General further stated the research, analysis results, and finding available on open-source all point to the fact that the economic situation in the country contributes to the opposition to the introduction of the E-levy.

    “The Government has demonstrated a determination throughout this period to impose the draconian 1.75% Electronic Transfer Levy on Ghanaians who avail themselves of the services of electronic transfers despite conclusive research and analysis results and findings available on open-source pointing incontestably to the fact that the majority of Ghanaians do not, on a non-partisan basis, agree with the reasons assigned by the Government for imposing the draconian levy or even a lesser percentage of such tax on the nation in the present deprived environment of the ordinary citizen,” he added.

    Source: starfmonline.com

  • NDC once imposed 17.5% tax, 1.75% e-levy is the lowest rate ever – Egyapa Mercer

    Lawyer Andrew Egyapa Mercer, the Member of Parliament for Sekondi constituency, has urged Ghanaians to support the government’s E-levy policy pending Parliamentary approval.

    The E-levy is to be rolled out next month ensuring that Ghanaians are taxed on a range of electronic transactions.

    A 1.75 percent charge is to be deducted on every 100 cedi MoMo transaction made and also on all bank transfers.

    The E-levy has been met with strong opposition from the Minority in Parliament as they have vehemently kicked against its passage into law.

    However, the NPP Majority in Parliament is in support of it and is bent on implementing the policy in February as was announced by the Minister for Finance, Ken Ofori-Atta last year during his presentation of the 2022 Budget and Economic Policy before the Legislative House.

    Commenting on the E-levy during a panel discussion on Peace FM’s ”Kokrokoo”, Lawyer Egyapa Mercer beleived it’s the way to go for Ghana’s development.

    He was optimistic the e-levy will be used to fix the country’s developmental challenges like bad roads, inadequate infrastructure and hospitals among others, hence encouraging all Ghanaians to embrace this initiative.

    He shot down arguments that the 1.75% should be reduced stressing ”1.75 is 1 cedi 75 pesewas on a 100 cedis. It’s 17 cedis 50 pesewas on a 1000 cedis. It’s the lowest tax rate ever,” he submitted.

    He also recalled how the NDC years ago introduced a 17.5% Value Added Tax on financial services, which he says was way higher than what is being proposed today.

    “Let them propose an alternative, they have been in government before, remember VAT on financial services? Theirs was 17.5% and there was no pandemic and all other expenditures this government has made.

    “The difference between 17.5% then and 1.75% now all to allow for development efforts, to among others help government combat youth unemployment,” he stressed.

    Source: peacefmonline.com

  • E-levy must be passed into law before it can be implemented – MP

    The Member of Parliament for the Asunafo South Constituency, Eric Opoku, has said the e-levy must be legalised before it can be implemented.

    According to Mr Opoku, Article 174 of the 1992 Constitution states that for any tax to be collected in the country, parliament must pass an act which the president must assent into law.

    He added that even if all stakeholders accept the e-levy, the government must still bring a bill for parliament’s consideration and approval, requiring a two-thirds majority to pass.

    Also, he said the e-levy would overburden low-income earners, particularly national service personnel, as well as nursing training and teacher training students who are all paid through the e-zwich payment system.

    “When a nursing trainee receives her small allowance of GH¢ 400, she would be taxed 1.75 per cent of it when the person goes to withdraw the money, not only that the when the person attempts to send the money to her mobile money account, she would again be charge 1.75,” he said.

    He added even income sent to the poor and vulnerable would also tax.

    He also said that though cocoa farmers were exempted from paying income tax by law, cocoa income would now be taxed because their incomes are paid through mobile money.

    The Member of Parliament for the Asunafo South Constituency, Eric Opoku, has said the e-levy must be legalised before it can be implemented.

    According to Mr Opoku, Article 174 of the 1992 Constitution states that for any tax to be collected in the country, parliament must pass an act which the president must assent into law.

    He added that even if all stakeholders accept the e-levy, the government must still bring a bill for parliament’s consideration and approval, requiring a two-thirds majority to pass.

    Also, he said the e-levy would overburden low-income earners, particularly national service personnel, as well as nursing training and teacher training students who are all paid through the e-zwich payment system.

    “When a nursing trainee receives her small allowance of GH¢ 400, she would be taxed 1.75 per cent of it when the person goes to withdraw the money, not only that the when the person attempts to send the money to her mobile money account, she would again be charge 1.75,” he said.

    He added even income sent to the poor and vulnerable would also tax.

    He also said that though cocoa farmers were exempted from paying income tax by law, cocoa income would now be taxed because their incomes are paid through mobile money.

    He said Malawi had to reduce its e-levy to 0.5 per cent because of the hardships the e-levy brought on its citizenry.

    Source: www.ghanaweb.com

  • Tax funerals, chiefs who sell lands not MoMo transactions Odike on E-levy

    Founder and Leader of the United Progressive Party (UPP) Akwasi Addai Odike has described the proposed 1.75% levy on electronic financial transactions as repressive and a “carbon copy of IMF conditionalities.”

    The so-called E-levy proposed by the Minister of Finance in the 2022 Budget Statement aims to rake in some 6.9 billion Ghana Cedis annually and replaces the funds that would have been accrued from the collection toll levies on highways, which the ministry estimates to have been raking in only GHC 78 million.

    But speaking on Kumasi-based Angel FM monitored by MyNewsGh.com today, Akwasi Addai Odike said the approach to tax people even before they make any income only goes to impoverish rather than empower them.

    He challenged the government to ditch the idea of taxing mobile money transactions that would affect the poor and rather look at raking income from informal sources like funerals and land sales by chiefs.

    He said those who provide services at funerals like the undertakers, caterers and others walk home with huge monies without being taxed.

    Founder and Leader of the United Progressive Party (UPP) Akwasi Addai Odike has described the proposed 1.75% levy on electronic financial transactions as repressive and a “carbon copy of IMF conditionalities.”

    The so-called E-levy proposed by the Minister of Finance in the 2022 Budget Statement aims to rake in some 6.9 billion Ghana Cedis annually and replaces the funds that would have been accrued from the collection toll levies on highways, which the ministry estimates to have been raking in only GHC 78 million.

    But speaking on Kumasi-based Angel FM monitored by MyNewsGh.com today, Akwasi Addai Odike said the approach to tax people even before they make any income only goes to impoverish rather than empower them.

    He challenged the government to ditch the idea of taxing mobile money transactions that would affect the poor and rather look at raking income from informal sources like funerals and land sales by chiefs.

    He said those who provide services at funerals like the undertakers, caterers and others walk home with huge monies without being taxed.

    “An undertake can charge over GHC 10,000 for working on only one corpse on a Saturday and walk away with all the cash without paying any taxes on their incomes; chiefs also sell large tracts of land without paying any taxes but expect their towns to be developed, it is high time the government looked at taxing all those activities,” Odike said.

    Source: mynewsgh.com

  • E-levy taxes: Bring proof government is doing the wrong thing – Stephen Amoah dares economists

    Member of Parliament for Nhyiaeso Constituency, Stephen Amoah, has called on professionals and other experts in the economic and financial fields to stop chastising the government and instead bring practical solutions on how to solve the economic situation the country is facing.

    According to him, several financial experts are making comments on the new taxes to be introduced emphasising that their statements are only spiting the public against the government.

    Speaking in an interview wth GhanaWeb in parliament, he said, “I want to use this opportunity to call on the doctors, professionals in the finance and economy to come again. Their inputs are respected because that is what democracy demands. Some are saying that we should take away the tax, some are also saying that we should reduce it. As experts in those fields, I respect them.”

    The MP for Nhyiaeso indicated that aside from the criticisms, they should come up with a detailed plan on how government should tax Ghanaians as well as lead the way on how government can raise revenue.

    He added, “Some are also far better than me, but the question is to bring paper on it and tell us that if we reduce by up to one percent and we extract it, this is how much as a country we can save and this is the obligation we have in terms of our deficit and in terms of statutory requirement in our budget in terms of water and electricity we can solve. You cannot make an arbitrary statement and force the public to force the government to make wrong statements.”

    The Former Executive Director of the Micro Finance and Small Loans Centre (MASLOC) reiterated that although the cost of living in Ghana is high, the current government inherited huge debt hence the need for the introduction of new taxes to keep the country running.

    “We are not saying there is no hardship, but what we are saying is that if we are considering all the performance perimeters, then the economy that we inherited was dead. If that is the case this budget has all the resurrection power,” he told GhanaWeb.

    Members of Parliament have commenced debate on the 2022 budget statement after the Minister of Finance of Ghana, Ken Ofori-Atta presented it to parliament, on November 17, 2021.

    Among the policies expected to be implemented is the Electronic levy (E-levy), which involves the introduction of taxes on electronic transactions such as mobile money (momo) transactions in the country.

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

    Meanwhile, the minority in parliament has vowed not to approve the 2022 budget as they claim it will worsen the plight of Ghanaians.

    Source: www.ghanaweb.com