Former Deputy Minister of Finance, Dr. Stephen Amoah, has defended the introduction of the electronic transfer levy (E-Levy).
According to him, he has no regrets about its implementation, despite significant public opposition.
Speaking on GHOne TV Hard Talk with Serwaa Amihere, he emphasized that the country depends on structured taxation for revenue; pointing out that Ghana’s economy operates on a deficit, making tax adjustments necessary.
The E-Levy, introduced in 2022, was met with strong opposition from sections of the public, who argued that it added to the financial burden of Ghanaians.
However, the government defended the tax measure as crucial for generating revenue to support national development.
While some analysts believe the E-Levy has not generated the expected revenue, the former Deputy finance minister maintains that tax adjustments are necessary to address the country’s fiscal challenges.
“Personally, I don’t regret about E-Levy. We are running what I describe as a negative effective tax rate economy. Ghana has generally been run on deficit. So, tax is calibrated in nature based on our fiscal space. The money we receive is not enough, hence the adjustment of taxes,” he said.
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