E-Levy to increase tax to GDP from 11.3% to 16% - Finance Minister
E-Levy to help improve Ghana's debt situation, Ken Ofori-Atta
Minister of Finance, Ken Ofori-Atta has insisted that Electronic Transactions Levy (E-Levy) Bill will be resubmitted before Parliament when it resumes sitting on January 25, 2022.
According to him, the tax measure contained in the 2022 budget statement, is a critical tool for rebuilding Ghana’s economy.
Speaking at a press briefing on Wednesday January 19, the finance minister said, “Ladies and gentlemen the E-levy is a necessary tool to increase our tax to GDP from circa 11.13 % to 16% and above to guarantee that we pay for what we use”
The minister then advocated for the swift passage of the e-levy Bill which has been at an impasse in parliament since its announcement.
“I call on both sides of the House to look forward in joining hands to approve the e-levy on a consensus basis so that we collectively address the big issue of unemployment, debt sustainability, infrastructure and especially build our roads,” Ofori-Atta pointed.
He further underscored the need to approve the e-levy Bill in order to address the recent downgrade of Ghana credit rating from ‘B’ to ‘B-‘ by international ratings agency, Fitch.
The finance minister also said the approval of the e-levy would be key towards sustaining the country's debt situation.
