E-Levy is a credible recovery programme – Akufo-Addo on BBC

President Akufo-Addo has justified the passing of the controversial Electronic Transaction Levy (E-levy) stating that it will aid in reviving the economy.

In an interview with BBC’s Peter Okwoche, the President emphasized that his government is doing all it can to revive the economy and bring it to the state Ghanaians want it to be.

“In Ghana, the recovery programme we have is very credible and that is what is going to give us the opportunity to come out of this period a stronger economy, and it is that future we are looking at. The digital economy is emerging as the biggest economy in the country and for a long period, it has not had any tax at all, so it is important that it also comes into the net,” he stated.

He continued “The world is going through very difficult times. Ghana is no exception, Nigeria is no exception. There is no country in the world that has escaped the ravages of COVID-19. What you need to look at is the elements being put on the ground that looks beyond the Russia Ukraine war.”

Background

President Akufo-Addo last week granted the Presidential assent to the E-levy bill which was passed into law on Tuesday March 29, 2022.

The Presidential assent comes despite the suit filed at the Supreme Court by the Minority who have raised concerns over quorum.

The electronic transaction levy is expected to increase tax revenue by GHs 6.9 billion (US$1.1 billion) for the government to help reduce the budget deficit. Government after government has struggled with implementing a comprehensive tax regime due to the large informal economy.

Meanwhile, the Speaker of parliament Alban Bagbin today lashed out at the Supreme Court over its recent judgment allowing deputy speakers to vote while presiding.

The apex court also affirmed article 104(1) of the constitution which requires a quorum of half of entire MPs before voting. The Minority through its chief whip Muntaka Mubarak accused the Clerk of parliament Cyril Nsiah of masterminding the marking of seven NDC MPs absent in the votes and proceedings on Tuesday during the passage of the E-Levy.

Ablekuma Central Dan Abdul-Latif, New Edubiase MP Adams Abdul Salam, Elizabeth Ofosu-Adjare of Techiman North, Amenfi East MP Nicholas Amankwa, Zebilla MP Cletus Avoka, Boateng Joseph Appiah of Afram Plains South, and Sissala West MP Sukparu Adam Mohammed were all marked absent even though they were in the chamber.

Muntaka further faulted the clerk’s office for failing to capture the walkout of his side in the records questioning the motive for development.

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