E-Levy, other taxes stifling growth potential of new businesses – Terkper


 Former Finance Minister, Seth Terkper, has once again bemoaned the negative impact of the Electronic Transfer Levy (E-Levy) on ordinary Ghanaians.

According to him, apart from being poorly designed and inequitable, the controversial tax policy adds to the operational costs of new and innovative businesses within the technology space.

A member of the governing New Patriotic Party (NPP), Gabby Asare Otchere-Darko, recently stated that the e-levy introduced by the government to generate additional cash for the government is raking in only 10% of estimated revenue.

Commenting on the E-levy ahead of the presentation of the mid-year budget review, Mr. Terkper urged the government to look for ways to provide new businesses with incentives to facilitate their growth.

“They are the ones who should get tax concessions. They are not the ones who should suffer the tax.”

But he complained that Ghana is currently “doing the reverse.”

“You have old industries, and you keep renewing their incentives and when new industries come, we rather tax them instead of providing them with incentives,” Mr. Terkper said.

credit:citinewsroom

ABDUL-WAHAB

VOV stands for Voice Of Volta, we are the mouthpiece for the second-largest local dialect spoken in Ghana. But our programing is 70% English and we are heavy on sports and entertainment, we provide good music, credible and reliable news.

Post a Comment

Previous Post Next Post