E-Levy: Gabby Otchere-Darko Reveals Controversial Tax Delivering Only 10% of Estimated Revenues

• Gabby Otchere-Darko is worried that the E-Levy has failed to deliver on expected revenue targets since its implementation
• The leading NPP member said the controversial tax has so far delivered only 10% of its expected revenue
• Tweeting generally about the troubled economy, he said the levy has so far brought GHS60 million out of the projected GHS600 million

A leading member of the governing New Patriotic Party (NPP) Gabby Otchere-Darko has revealed the controversial E-levy is failing to live up to the revenue expectations of the government.

According to the boss of the pro-NPP think tank, Danquah Institute, the tax that came into force on May 1, 2022, is delivering only 10% of the target revenue.

In a series of tweets to lament Ghana’s economic challenges, the close confidante and cousin of President Nana Akufo-Addo said confidence in the economy was dwindling.

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“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…”

He said E-levy, which was to have given us someGHS600 million by now has done less than GHS60 million.

“Ghana has no food crisis, enough food from our farms, yet food prices have shot up 3-4 times more in our cities, far & over above rising cost of transportation. To make matters worse, global food insecurity is worsening as inflation, from challenges with supply chain, worsens…

“Our economy is growing faster than most countries around the world. But, that alone can’t save us as confidence in our ability to service our debts is lowering. We can’t continue to use all the little revenues raised to pay our debts. Very soon we may have to borrow to pay wages!” he tweeted on Monday, June 27, 2022.

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Gabby blames Ghanaians’ refusal to pay taxes for E-levy’s poor showing

Majority of Ghanaians have reduced volume of mobile money transactions

YEN.com.gh reported in a previous story that a survey by think tank IMANI Centre for Policy and Education has found that 83% or 8 in 10 Ghanaians have reduced their volume of mobile money transactions since the implementation of the e-levy on May 1, 2022.

Many of them said they have reduced the volume of their transaction by 51% to 100%.

The study conducted in collaboration with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) also suggests that many Ghanaians are likely to stay away from mobile money transactions for a long time.

Source: YEN.com.gh