Mr Joe Jackson says that Ghana is broke and needs to increase revenue through E-levy

Mr Joe Jackson, a Financial Analyst and Chief Operations Officer at Dalex Finance, has said the government needs to increase the tax revenue.

He noted that the introduction of the E-levy is meant to generate revenue for government expenditure as part of the move to widen the tax net.

He tweeted “Ghana is still broke! We spend 50% of revenue on interest payments and 55 % on Salaries. Govt needs to increase tax revenue else we may not be able to even borrow more. Hence the proposed E-levy. #TaxTheWealthy #HardDecisions #BrokeGhana.”

Finance Minister Ken Ofori-Atta announced a new levy to be charged by the government in 2022 on all electronic transactions to widen the tax net and rope in the informal sector.

He continued “It is becoming clear there exists the enormous potential to increase tax revenues by bringing into the tax bracket, transactions that could be best
defined as being undertaken in the ‘informal economy’.”

 

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