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Business News of Friday, 25 February 2022

Source: GNA

E-Levy is a national economic renaissance - Former Deputy Trade Minister

Former deputy Trade and Industry Minister, Carlos Ahenkorah Former deputy Trade and Industry Minister, Carlos Ahenkorah

Carlos Ahenkorah, former Deputy Minister of Trade and Industry, has tagged the Electronic Transaction Levy (E-Levy) as a national economic renaissance policy that would serve as a game-changer for the country.

He described the E-Levy as a modern and transformed economic means of tax collection, which ensures that most of the citizens were captured in the tax net to aid the country’s development.

Speaking at the Ghana News Agency Dialogue session, Mr Ahenkorah, who is the Member of Parliament for Tema West Constituency, said the E-Levy was a forward-looking tax regime to ensure that local resources were mobilized for national development.

The GNA Dialogue is a platform for state and non-state operators to communicate to the world on national and global issues.

The Tema West MP explained that the E-Levy was the best alternative to develop the country rather than going in for loans, adding “no nation can develop based on loans, as loans come with conditionalities, as well as the high-interest rate for repayment.”

He said taxing the citizens through E-levy would enable the country to avoid the incurring of more debts since the funds raised through the citizens' taxes would help in the development of the country.

"Where else do we expect the government to get funds from to enable Ghanaians to enjoy the benefits of security and freedom, if not from the taxes we pay," he said.

He reiterated that only a few people were paying their taxes consistently, whereas the rest of the citizens do not despite the amount of money they made.

He said, "those out there on the streets hustling are making lots of money than some of those in the offices but still are not paying the required taxes".

Mr Ahenkorah stated that the government was voted into power to help develop the country and needed these taxes from every citizen to fulfil the aspiration of the Ghanaians.

He mentioned, "you put the government into power with a task and under the dynamic leadership of President Nana Addo Dankwa Akufo-Addo, a policy direction through E-Levy is being introduced for accelerated national development.

“Ghanaians must rather support the creative idea of the E-levy, let’s put partisan politics aside and focus on national development."

Mr Ahenkorah explained: "That is why the government is relying on you and me to put the money in the country's coffers by paying our taxes through E-levy."

Francis Ameyibor, GNA Tema Regional Manager, explained that the Dialogue formed part of a broader objective of the Agency to be the source of news on Ghana’s investment and industrialization drive, economic and tourism potential.

“As Industrial News Hub, GNA has created a platform for industrial players to use, for other stakeholders to reach out in a proactive means while serving as grounds to address national issues,” he said.

Mr Ameyibor said there was the need for GNA to reach out to the government and people in authority with issues while bringing the understanding of the government’s policy to the people.