E-Levy not a game-changer - Ken Thompson to government

E-Levy won't widen country's tax net, Dalex Finance CEO

Zero incentive for people who make things work, Ken Thompson

Financial analyst, Ken Thompson, has said the E-Levy will not widen the country's tax net as stated by government.

He pointed out that the tax on all electronic transactions is not a game-changer.

Speaking on Citi TV's Point of View programme, the chief executive officer of Dalex Finance said the implementation of the E-Levy will leave several businesses struggling and to some extent, collapse them.

“The E-Levy is not the game-changer. There may be a justification for taxing electronic transfers, but it doesn’t solve the issue of widening the tax net. Potentially, if we are not careful, and we push it through the way that it’s been presented, it will kill a lot of businesses and all electronic transactions. We do not have the incentive to encourage the people to make these things work. There is absolutely zero incentive for people to do the right thing,” he said.

Ken Thompson said per analysis done on the E-Levy, the amount of taxes will outweigh investments in the country.

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

He, therefore, entreated Ghanaians to support the passage of the E-Levy bill.