Gabby ‘Cries’ Over Economy As He Claims E-levy Is Delivering Only 10% Of Estimated Revenues
Gabby Otchere-Darko, a member of the ruling New Patriotic Party Party (NPP), has sobbed at the country’s lack of cash generation.
According to him in a tweet Monday morning, “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 dollar . .” he tweeted.
He also lamented the nation’s mounting debt, which at the end of March 2022 was estimated to be worth GH 391.9 billion.
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.
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.