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Business News of Thursday, 25 November 2021


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

Member of Parliament for Nhyiaeso Constituency, Stephen Amoah Member of Parliament for Nhyiaeso Constituency, Stephen Amoah

Nhyiaseo MP calls on experts to share ideas on how government can raise revenue

2022 budget has the 'resurrection power' to save Ghana, Stephen Amoah

Parliament commence debate on 2022 budget

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.