Gabby Asare Otchere-Darko, a prominent NPP member, lamented the state of the nation’s revenue generation.
He claims that even though the Electronic Transfer Levy was approved in March 2022 and put into effect in May of that same year, it is only producing 10% of the country’s projected revenues.
In a string of tweets on Monday, June 27, 2022, Gabby Asare Otchere-Darko claimed that Ghana’s revenue generation was still comparatively low compared to the rest of the world.
He also lamented the nation’s mounting debt, which at the end of March 2022 was estimated to be worth GH 391.9 billion.
“After 5 months of stalemate and bashing, the e-levy, after implementation, is delivering only 10% of estimated revenues; our revenues remain very low as compared to the rest of the world; debt levels dangerously high, cedi, like most currencies, struggling against the US dollar,” he tweeted.
Despite vehement opposition from a cross-section of Ghanaians, the minority in parliament, civil society organizations, and numerous stakeholders, President Akufo-Addo enacted and signed the E-Levy into law.
Even while many have condemned the tax plan as regressive and one that would undo progress made toward a paperless economy, the government believes it is vital to overcome revenue gaps and help solve the nation’s revenue mobilization and economic management.
Below is the tweet
The E-expected Levy’s income for the 2022 fiscal year had to be reduced from GH6.9 billion to GH4.9 billion as a result of a five-month delay in Parliament over its adoption.
