Gabby Asare Otchere-Darko, a prominent New Patriotic Party member, has voiced discontent with the present state of money collecting in the country.
Despite the fact that the Electronic Transfer Levy (E-Levy) was enacted in March 2022 and implemented in May of the same year, he claims that the tax policy is only earning 10% of the funds that the government expected to generate.
Gabby Asare Otchere-Darko stated in a series of tweets on Monday, June 27, 2022, that Ghana’s revenue generating is still quite low in comparison to the rest of the world.
In addition, he bemoaned the country’s growing debt, which had reached 391.9 billion Ghana cedis by the end of March 2022.
“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 wrote.
President Akufo-Addo signed the E-Levy into law despite objections from Ghanaians, the minority in parliament, civil society groups, and other stakeholders.
Despite complaints that the tax shift is regressive and would undermine progress toward a cashless economy, the administration believes it is necessary to address revenue deficits and enhance revenue mobilization and economic management.