Investigative journalist, Manasseh Azure Awuni has labelled leading member of the New Patriotic Party, NPP, Gabby Otchere-Darko as a 'sounding board.'
According to him, Gabby's recent economic posts were meant to communicate - unofficially - the next stance of the government relative to the Electronic Transactions Levy (E-Levy) and the decision to go to the International Monetary Fund, IMF, or not.
"Gabby "Sounding Board" Otchere-Darko is at it again, signaling the next options for the failed Akufo-Addo regime," Manasseh tweeted on June 27.
Gabby had on Monday posted a series on tweets about the economy, specifically lamenting issues around the E-Levy which was implemented in May.
He said, the tax measure implemented with the hope of turning the Ghanaian economy around, has generated less than GH¢60 million instead of GH¢600 million, has triggered many reactions.
“After 5 months of stalemate and bashing, the e-levy, after implementation, is delivering only 10% of estimated revenues; our revenues remain very low as compared to the rest of the world; debt levels dangerously high, cedi, like most currencies, struggling against the US dollar…”
“What options are open to government? The question should rather be: what option, if adopted, will re-inject investor confidence in our economy? Even if we find the $3-5 billion required, will that help? E-levy which was to have given us some 600m by now has done less than 60m,” some of Gabby’s tweets read.
About the E-Levy
The E-Levy, 1.5% value tax on all electronic transactions above 100 Ghana cedi, was implemented by the Ghana Revenue Authority (GRA) on May 1. This was despite the numerous concerns a section of the public raised, including double taxation.
The government, however, argued that the policy was to enhance revenue mobilization, support entrepreneurship, increase Ghana’s tax-to-GDP ratio and provide an opportunity for everyone to contribute to national development.
After the policy was implemented, a number of people withdrew their monies while others ceased transactions.
A report by IMANI Centre for Policy and Education in collaboration with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) on June 24, 2022, said: “About 83% or 8 in ten respondents indicated that their volume of transactions has changed since the implementation of the e-levy in May 2022. Of this number, about 47% indicated that they had reduced the number of mobile money transactions by about 51% to 100%. Our findings suggest that the official 24% attrition rate, which the government estimates for the first three to six months following the introduction of the e-levy, is likely to be much higher.”
“This finding implies that the forecasted GH¢4.5 billion (GHS¢60 million per month) e-levy revenue target for 2022 is unlikely to be attained given the strong consumer backlash and people finding alternative means of undertaking financial transactions.”
Meanwhile, GhanaWeb is accepting nominations for the prestigious GhanaWeb Excellence Awards – Youth Edition. Watch how you can nominate from the video below.
Source: ghanaweb.com
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AFUKU ADDO IS FAILURE IN REAL PERSON A WALKING DISASTER THE MOST ***barred word*** AND INCOMPETENT LEADER IN THE HISTORY OF GHANA MR I JUST WANT TO BE PRESIDENT TO LOOT AND MILK MOTHER GHANA DRY MR GREEDY AND VISIONLESS LEADER...GOD SAVE GHANA
***barred word*** ba
Why do we do this to ourselves as a people. Never satisfied with anything unless we gain personally from it. If Akuffo Addo’s government is a failed one then we are in trouble and have been over the last 65 years as a nation. We have no hope and could make it matter to satisfy every one in Ghana. When are we going to stop being hypocrites and self centred and opportunist and start to think about the positives. Have we not learnt anything since Kuffour’s era?? These so called self centred journalists have started again and that’s what they do best when they don’t get their way and will cause disaffection only for the voters to bring in the opposition and the same cycle will repeat only for us to realise that things were not that bad after all. Oh mother Ghana 🇬🇭 I weep for the next generation and what will happen on the next 20 years of this same old story does not change. a
If Akufo Addo regime is a failed one then how will you describe Mahama's regime? Dog meat and too much pitoo has spoiled your brains. Your compatriots such as Captain Smart,Bobie Ansah have out smart you by getting properties,V8's from the NDC and now you have realized things are getting hard so you have started bashing the government so you can get your share from the NDC.