Dr Joshua Bampo, a global finance and tax expert, has said that considering eliminating the e-levy is not a viable option given the current economic difficulties facing Ghana.
He clarified that the present budget deals with paying off debt and paying salaries. These consume a sizable portion of the budget, leaving very little for the capital projects required to boost economic growth. The e-levy is therefore required to close the gap.
Speaking on the Ghana Tonight show on TV3 Thursday, September 29, Dr Bampo said “This will not be the right time for us to make a case for a withdrawal of the e-levy. We all know where we are as a nation in terms of the economic challenges we are facing, the e-levy was part of our revenue budget in order for users to meet our budgeted expenses.
“If you look at our current budget, just financing of the of it is in debt and payment of public salaries, it takes a big chunk of that projected revenue.
“You are then left with almost little capital projects that are needed to stimulate the economy and create job opportunities. So taking away withdrawing e-levy I don’t think it is something that should be considered at this point.”
Before making his statement, Dr Ali Nakyea, a tax expert and lecturer at the Ghana School of Law, stated on the same show that he will not support any efforts to remove the e-levy at this time.