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f E-levy has become a nuisance tax, scrap it – Dr Duffuor tells government
A former Finance Minister, Dr Kwabena Duffuor has advised the government to scrap the Electronic Transfer Levy (E-Levy) if it is not raking in the needed revenue.
According to him, there is no need for the government to keep such a tax.
In an interview with Citi TV on Wednesday, Dr Duffuor insisted that the controversial levy should be abolished immediately if it has become a nuisance tax.
“We need to ask ourselves, are we getting enough from it? If we are not getting enough from it, then it is a nuisance tax, and we should scrap it.”
Meanwhile, data from the Ghana Revenue Authority (GRA) indicates that the Electronic Transfer Levy (E-Levy) implemented in May 2022 raked in ¢861.47 million as of March 2023.
The controversial levy in the first year of implementation at a rate of 1.5% accrued ¢614.57 million.
However, in the first three months of 2023, the levy brought in ¢246.9 million for the state.
According to the data from the GRA, the E-levy registered ¢53.58 million in revenue in the first month (May 2022) of its implementation.
It further shot up to ¢59.23 million in June 2022 and consistently rose in July 2022 (¢65.0 7million), August 2022 (¢71.29 million), September 2022 (¢78.95 million), October 2022 (¢85.73 million) and November 2022 (¢93.3 million) respectively.
The E-levy inflows breached the one hundred million cedis mark to record ¢106.79 million in December 2022.
It however began the year recording lower revenue than in December 2022. This was after the rate was revised to 1%, from 1.5%.
E-levy records ¢246.9 million in quarter 1, 2023
In January 2023, the E-Levy inflow was estimated at ¢85.93 million.
It subsequently fell to ¢73.99 million, about 13.9% decline in February 2023.
However, in March 2023, the E-Levy amounted to ¢86.98 million, bringing the total collections in the first quarter of 2023 to ¢246.9 million.
The government had set a target of about ¢7 billion for E-levy in 2022. But the delay in implementation compelled it to review the target several times to about ¢800 million in the first month of implementation.
Despite the uproar about the implementation of the E-Levy, total mobile money transactions exceeded ¢1 trillion in 2022.
Source: Myjoyonline.com
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
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Prophet Courage Heavens set to launch ‘Predestination’ book on March 23
Prophet Courage A. Heavens is set to launch the much-awaited book titled ‘Predestination’ on Sunday, March 23, 2025 at 5:00PM.
The launch, which is expected to impact lives, will take place at Crossgates Ministries, Flattop, off N1 Highway, opposite Angel Hauz.
The book is aimed at addressing the way people struggle to understand how free will and destiny align.
It is also aimed at providing clarity on God’s sovereignty and one’s place in His divine plan.
The various chapters of the book address various issues through scriptures and personal stories.
Committed to impacting society, part of the proceeds from the book will go into Courage Heavens Education Legacy (CHEL), an educational foundation transforming lives.
CHEL is dedicated to providing financial support and mentorship to brilliant but needy students, ensuring they have access to quality education and opportunities for a better future.
Prophet Courage Heavens is a prolific writer and previously authored Eli Eli Lama Sabachthani, a powerful book that encourages unwavering faith in times of trials.
In addition, he has written seven more prophetic and life-changing books that are yet to be published.
He is dedicated to raising the next generation for impactful ministry. As the leader of Crossgates Ministries, he nurtures believers in faith and purpose.
