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Business News of Thursday, 24 February 2022


No need to introduce E-Levy if economy is well managed - Okudzeto to government

North Tongu MP, Samuel Okudzeto Ablakwa North Tongu MP, Samuel Okudzeto Ablakwa

Rwanda President didn't introduce E-Levy to transform their economy, North Tongu MP

Cut down your expenditure, Okudzeto to government

Government holds townhall meetings on E-Levy

North Tongu Member of Parliament, Samuel Okudzeto Ablakwa, has taken a swipe at the Akufo-Addo-led government as the economy is wobbling in recent times.

According to him, if truly government has managed the economy properly as trumpeted in public, then there's no need to introduce a tax on all electronic transactions - E-Levy.

He also accused the Akufo-Addo-led government of double taxing Ghanaians with E-Levy amidst the economic hardship.

Comparing the economic situation to that of Rwanda, he asserted that the Rwandan President, Paul Kagame, did not run to the International Monetary Fund (IMF) for financial assistance, neither did he introduce E-Levy to rake in revenue to transform their economy.

He, therefore, called on government to cut down on their expenditure to save some money.

Speaking on GTV Breakfast show, Samuel Okudzeto Ablakwa said, “If you manage your economy well, if you’re prudent and fugal and if you cut down your expenditure, you wouldn’t need to be introducing new regressive obnoxious multiple taxations and you wouldn’t need to go to the IMF.”

“If this economy had been managed properly; we are doing well, we have grown this economy, we are creating jobs, we have transformed this society like President Kagame did in Rwanda, he didn’t have to introduce E-levy or go to the IMF”, he added.

The announcement of the E-Levy in the 2022 budget has been fraught with several controversies, with many Ghanaians, including the Minority in parliament kicking against it.

The E-Levy bill was subsequently withdrawn from parliament and currently, the E-Levy has been reviewed downwards to 1.5% from 1.75%.

The bill is yet to be re-laid before parliament after its withdrawal.

Meanwhile, government through the information ministry is organising town hall meetings to discuss the Electronic Transaction Levy (E-Levy).

The exercise will also give government feedback on reactions from citizens on the proposed levy and how best to implement it.

Finance Minister, Ken Ofori-Atta, has also warned of dire consequences for the Ghanaian economy if the E-Levy is not passed.

Ken Ofori-Atta urged Ghanaians to support the implementation of the E-Levy.

View his Timepath below;