A leading member of the New Patriotic Party (NPP), Gabby Otchere-Darko, has said contrary to expectations, the E-levy is not generating enough revenue for government.
Mr. Otchere-Darko, in a tweet lamented that Ghana’s revenue remain low after months of “fights” over the passage of E-levy.
“After 5 months of stalemate and bashing, the e-levy, after implementation, is delivering only 10% of estimated revenues; our revenues remain very low as compared to the rest of the world; debt levels dangerously high, cedi, like most currencies, struggling against the US dollar,” he tweeted.
He however argued that Ghana’s economy is growing faster than most countries worldwide but noted that it was not enough because confidence in Ghana’s ability to service debts is low.
The e-levy is a new tax measure introduced by the government in the 2022 Budget on basic transactions related to digital payments and electronic platform transactions.
Critics of the proposal, including the Minority warned that the new levy will negatively impact the Fintech space, as well as hurt low-income persons.
The government, however, argued that the levy would widen the tax net as it could raise an extra GH¢6.9 billion in 2022.