News:
Member of Parliament for Akim Oda, Mr Alexander Akwasi Acquah
April 4, 2022
The Member of Parliament for Akim Oda, Mr Alexander Akwasi Acquah, says he is optimistic that the Electronic Transaction levy (E-levy), will help the government rake in more revenue to finance its numerous social intervention programmes and projects.
According to him, the e-levy is expected to increase the country’s tax revenue by at least GHs 6.9 billion which will go a long way to help reduce the government’s budget deficit.
The Akufo-Addo led government is projecting to rake in tax revenue of about GHs 6.96 billion which is equivalent to US 1.1 billion in 2022 alone, and about GHs 26.90 billion (US 4.5 billion) from 2023 to 2025 after a successful approval of the E-levy bill.
Presenting the State of the Nation Address (SONA) on the floor of Parliament last Wednesday, President Nana Akufo-Addo applauded members of August House for approving the E-levy, adding that revenue that will be generated from the E-levy will to make significant contribution to Ghana’s development.
“Mr. Speaker, despite the protracted and sometimes acrimonious nature of proceedings, I am happy that the House has, finally, found it possible to pass the E-levy Bill. I believe the levy is going to make a significant contribution to revenue mobilization and the management of the national economy, and I want to thank Members of the House for making this possible”, the President stated.
Meanwhile, contributing to a panel discussion on Original TV’s “Adwene Pa” morning show programme today, the MP noted that the government targeted the digital space to maximize its tax base after study had shown that most Ghanaians now prefer to conduct and do their businesses using various electronic platforms, especially mobile money.
He stated that the E-levy, which seeks to ensure a tax regime that reaches almost all citizens, will help the government generate enough revenue to finance its numerous projects without looking for external supports or funding.
He therefore called on all Ghanaians, especially his colleagues from the other political divide, to throw their weight behind the new levy in order to achieve its purpose.
Ghanamps.com