• Sun. Aug 7th, 2022

E-Levy better than going to IMF for ‘peanuts’ – Paul Amaning

ByEditor

Apr 2, 2022 , ,

Paul Amaning, the Eastern Region New Patriotic Party (NPP) Chairman candidate, has reaffirmed his demand for Ghanaians, particularly the youth, to embrace the Electronic Transaction Levy (E-Levy) law and tax collection.

He claimed that this was a better option for raising additional revenue for development than asking assistance from the International Monetary Fund (IMF).

He believes that the E-levy is a more viable option for addressing income gaps than requesting a bailout from the International Monetary Fund (IMF).

“Ghanaians must embrace the E-Levy strategy because it would prevent the government from requesting IMF assistance,”

Paul Amaning believes that raising more revenue domestically, such as through the proposed E-levy, is the remedy for reviving the economy.

“I don’t think we should go to the IMF right now.” This is the time to put an end to the NPP and NDC nonsense and get [moving]. I don’t believe we need to go to the IMF because two things will happen: policy descriptions will be changed, and the quantity of money we will receive will be less than half of what E-levy will provide. As a result, policy direction changes and measures are required, and we can do this on a domestic level.”

In the face of widespread popular opposition to the E-levy, some commentators have suggested that seeking an IMF bailout would be a preferable option, but the administration has stated that it will not do so.

Others have dismissed proposals for Ghana to enter an IMF program, claiming that the only alternatives available to the country are fiscal discipline, a reduction in wasteful spending, and the plugging of tax leakages.

President Nana Addo Dankwa Akufo-Addo has signed the e-levy bill into law, which will take effect on March 31, 2022.

After a walkout by the minority, Parliament approved the bill on Tuesday, March 29, 2022.

On Wednesday, March 30, Finance Minister Ken Ofori-Atta said that deductions will begin in May of this year.

The Controller and Accountant General (CAGD) and the Ghana Revenue Authority (GRA), who will be the revenue collectors, have assured him of this.

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