Ghanaians never supported E-Levy; withdraw it – Economist

E-Levy not meeting projected revenue target, Gabby

E-Levy is a government-led Ponzi scheme, Sam George

Inflation is a form of taxation, Economist

Economist, Professor Godfred Bokpin, has reiterated that Ghana should discontinue the implementation of the Electronic Transaction Levy.

According to him, the tax is a nuisance tax.

Speaking on Joy FM, he said “One

Read full articlemajor policy intervention which they called E-Levy, and of course, many Ghanaians did not support E-Levy, and I still don’t support E-Levy and I will still ask the government to withdraw the E-Levy.”

He noted that the E-Levy is not yielding the expected results it projected.

Gabby Asare Otchere-Darko, a leading member of the governing New Patriotic Party mentioned that the E-Levy since its implementation two months ago has yielded only GH¢60 million out of the estimated GH¢600 million.

Professor Bokpin stated that the government’s enhanced measures including travel bans that were captured in the 2022 Budget have failed to meet the expectations of stakeholders and investors.

“And you could see that also on our yields on our bonds,” he added.

“Then you see quickly Russian-Ukraine; we may not be seeing the bullet right here [Ghana], but the effect magnifies the existing vulnerability and exposes the weaknesses in our economy in a way that we haven’t seen in recent times.”

“You could see where inflation is and it appears we are helpless to some extent. In the midst of all the multiple taxes, the rising inflation itself is also a form of tax, especially on low-income households who have no means of protecting their meagre savings and investments against the rising inflation.”

SSD/FNOQ