Chief Executive Officer for Dalex Finance, Ken Thompson, has asked the government to re-examine its outlined modes for revenue generation, especially the proposed Electronic Transaction Levy (e-levy).
Speaking on JoyFM’s Super Morning Show, Mr Thompson stated that ongoing discussions by the government to raise revenue through the e-levy amid suggestions that the levy is a game-changer is a non-starter.
“The e-levy is not the game-changer,” he said.
His comment was particularly in reaction to claims by some government officials that the levy, if not approved, will affect major development projects the government intends to embark on. Others, including Deputy Majority Leader and MP for Effutu constituency, Alexander Afenyo-Markin, and Tema Central MP, Nii Noi Hanson-Nortey, have also described the levy as a game-changer.
In a reaction, however, Mr Thompson, said “making this appear as if when it is implemented, everyone’s house is going to have gold on the floor is not right.”
“How much is the e-levy going to give us? We’re overselling it in a way to almost say that if we had the e-levy our streets will be paved with gold and if we don’t do the e-levy, we’ve taken a suicide pill,” he added.
He opined that if the government intends to raise more revenue, it should explore other avenues such as going after property tax and going after tax exemptions since “that’s where the beef is.”
Further explaining why the e-levy is not the best option, he reiterated that the levy will undermine government’s ongoing digitisation drive.
He also mentioned that the proposed levy is being oversold by the government, adding that government is selling fear, uncertainty, and doubt in the minds of citizens with this.
Meanwhile, Deputy Finance Minister, John Kumah begged to differ.
He said “government has already explained that the e-levy is not something that is going to hurt the economy of Ghana [so] the rhetoric that the e-levy is a game-changer and an answer to all problems of our country, the government has not said that.”
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