His reactions come after the Ministry of Finance downgraded its projection of revenue expected from the E-levy in 2022 significantly.
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E-levy has failed – John Gatsi calls on gov't to cancel it
The Dean of the Business School at the University of Cape Coast, Prof. John Gatsi has admonished the government to cancel the controversial E-levy in the country.
Professor John Gatsi
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According to the Ministry, the government is expecting GH¢611 million from the earlier projected $1.6 billion.
The Minister of Finance, Ken Ofori-Atta said when he presented the mid-year budget review in Parliament.
Regarding Value Added Tax (VAT) the expected revenue has been adjusted upwards from the initial GH¢14,534,864,446 to GH¢15,402,925,770.
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Ken Ofori-Atta
Pulse Ghana
Professor John Gatsi said the E-levy to be withdrawn.
Speaking on TV3, he said the tax is burdensome and destructive to economic activities as well as to participation in the cashless transactions regime.
"So when you look at the cost to this country, in terms of the actual amount of money being spent on infrastructure to roll out the implementation of the tax, and again the cost of people not participating in the benefits of the digitalization and for that matter cashless transactions regime, you can come to the conclusion that the failure tax should be rejected, it should be withdrawn to allow people to participate in a cashless economy," he added.
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