A former Finance Minister, Dr Kwabena Duffuor has described as problematic, government’s decision to introduce an electronic transaction levy (E-levy) as an innovative way to replace the scraped road toll.
Speaking at a lecture themed, “Ghanaian Dream: Transforming the Economy through the Creation of Jobs and Opportunities for All,” the former Governor of the Bank of Ghana explained that e-transaction is a mode of payment, thus, imposing the tax is unrealistic.
He further added that it will lead to double taxation, since the underlying income would have normally been taxed already.
“It should be noted that taxes/levies are imposed on income, gifts, consumption and held properties or assets. Electronic transfers and payments are none of these.
“This makes the proposed E-levy problematic because it could be fraught with serious implementation challenges. This tax could undermine the Ghanaian Digital Economy,” he said.