E-Levy Won’t Be Revoked Despite IMF Intervention – Information Minister
The Information Minister, Hon. Kojo Oppong Nkrumah has disclosed that the Electronic Transaction Levy will not be revoked despite the intervention of the International Monetary Fund (IMF), in bailing out the country from its current economic ills.
According to the Minister, it was the government’s intention not to seek assistance from the IMF due to the instigation of the E-Levy which is part of the government’s domestic economic measures to widen the country’s revenue base but this is the case the levy implementation lingered and even after that so many people are hesitant to pay which is making it not meeting the target, due to that the IMF was reconsidered.
Hon. Kojo Oppong Nkrumah unequivocally admitted that only 10% of the GHC 600 million targets were accumulated from the E-Levy. It is also key to note that the levy’s implementation lingered in parliament for 5 months which also affected the country.
He explained that “the IMF will leave us after the program expires and it will be needful to continue running the economy with domestic measures such as the E-Levy which is worth to increase its revenue base in subsequent years if it is addressed amicably”.
This makes it unsound to repeal the E-Levy even though it is not producing the required results after a month of its implementation, he added.
Source: Opemsuo.com/ Effah Mensah William.
