Much has been said of the e-levy since its name popped up in the Budget Statement and Economic Policy document which was presented before parliament by the Finance Minister, Ken Ofori-Atta on behalf of the President Nana Addo Dankwa Akufo-Addo.
In a few hours time, we will be in 2022 and a lot more will be said about it again as it will likely take effect in 2022 if Government goes on to implement it against the concerns raised by many Ghanaians and institution.
Many have spoken against the policy and a few people have come out to speak for it though acknowledging its unpleasantness. The Asantehene is one of the person who have come out to speak for the e-levy, urging Ghanaians to accept it as it is one of the ways Government can raise revenue to push the country’s development forward.
Quite recently, the Minister of National Security, Kan Dapaah also spoke in defense of the e-levy, noting that the country’s finances are in a poor state and that the e-levy is a policy that can resuscitate the economy and so we as Ghanaians must carry the cross as good citizens.
Surely the e-levy could not be as bad as some have made it to be or could it be even worse? Indeed no one has ever smiled at the mention of taxes, but I am sure Ghanaians know the importance of paying their tax for Nation building and yet still they still fight against it.
Who would not, when the 2021 report from the Auditor General indicated that the country had lost in excess of GHC12 billion to corruption and mismanagement. To put things in perspective, the projected revenue expected to be raised annual if the e-levy is implemented is GHC6 billion. Meaning we would actually be in a better position if we plug the leakages in our revenue baskets rather than introducing new taxes.
But of course that would mean the very person who are imposing the taxes on the ordinary Ghanaian would be denied of the avenue to enrich themselves, and so the economy looks bleak and with Ghanaians crying over the hardship in the country they have thought it smarter to increase the pressure of the tap rather than mending their baskets.
And as they do so, they have prepared themselves with bigger barrels to collect from the leakages of the National baskets as the cash flow is increased but the ordinary Ghanaian will not see the benefit of it.