• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

E-Levy: “I am taxing an industry not the poor” – Prez Akufo-Addo tells BBC

3 years ago
in Economy, Editor's pick, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
250
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

E-Levy: “I am taxing an industry not the poor” – Prez Akufo-Addo tells BBC

President Akufo-Addo has attributed the passage of the controversial electronic transaction bill to the country’s low tax-to-GDP ratio.

According to the President, Ghana compared to its West African peers has the lowest tax-to-GDP ratio of about 13% which is below the region’s known tax-to-GDP ratio of 18%.

Speaking in an interview on BBC Africa, the President averred the digital economy is the biggest emerging economy in the country which has not been taxed for several years now.

To him, taxing the digital economy and particularly mobile money transactions through the E-Levy bill, is bringing the digital economy under the net of taxation for national development.

“The digital economy, mobile economy is emerging as the biggest economy in the country and for a long period it has not had any taxation at all, so its important now that it also come into the net (taxation).

“Our country has the lowest tax to GDP ratios of any country in West Africa, the ECOWAS area tax to GDP average is about 18%, Ghana we are at 13%, if anything at all we are undertaxed.

RelatedPosts

FEC 2025: NRGI Warns Fossil Fuel Investments Risk Undermining Africa’s Energy Transition; Lists Innovative Financing Instruments to Plug Transition Funding Shortfall

Kwesi Appiah: The Ghanaian Legend Rewriting Sudan’s Football Story Amid War

Cadillac Signs Sergio Perez and Valtteri Bottas for 2026 F1 Debut

“They [Ghanaians] are not already impoverished (poor), we are talking about taxing an industry where a lot of value is being created and we also want to bring the value to government coffers.

“Ghana is not the only country that has E-Levy, many countries have it, people never like taxes, I don’t know of any group of people especially businesses that when taxes are brought to them they are happy,” he argued.

 President Akufo-Addo on March 31, 2022, signed the E-levy Bill into law.

As a result, the Bill, which was passed by Parliament on Tuesday, March 29, 2022, has now become a binding law which will be operationalised as a revenue measure across the country.

Background to the Presidential assent

Parliament approved the controversial Electronic Transactions (E-Levy) Bill on Tuesday afternoon.

This decision was reached after the Consideration Stage was completed by a Majority-sided House on Tuesday, March 29, 2022.

It was considered under a certificate of urgency.

The Bill was adopted at a reduced rate of 1.5% from the initial 1.75% amid a Minority walkout.

The tax, which has become a subject of debate among Ghanaians is expected to rake in close to GHS 6 billion in tax revenue for the country.

The Ghana Revenue Authority (GRA) has already hinted that its structures have been revised and ready to ensure mobilization of the income.

Source: norvanreports
Tags: ghanalow tax-to-GDP ratio.Passage of E-Levy bill necessitated by Ghana’s low tax-to-GDP ratio – Prez Akufo-Addo
No Result
View All Result

Highlights

FEC 2025: Energy Minister Warns African Gov’ts Cannot Sustain Energy Financing Burden; Urges Stronger Private Sector Role in Continent’s Energy Financing

ACEP Pushes for Bold Financing Models to Tackle Africa’s Energy Poverty at FEC 2025

The Rise of Women-Tailored Insurance Policies in Africa

Energy Ministry, NPA Engage Industry on Proposed Petroleum Sector Legislation

President Mahama Targets Billion-dollar Ghana–Singapore Trade in 24-Hour Economy Pitch to Investors

Unpaid Taxes “Very Frightening”, Says Hon. Nana Osei-Adjei

Trending

Energy

FEC 2025: NRGI Warns Fossil Fuel Investments Risk Undermining Africa’s Energy Transition; Lists Innovative Financing Instruments to Plug Transition Funding Shortfall

August 26, 2025

FEC 2025: NRGI Warns Fossil Fuel Investments Risk Undermining Africa’s Energy Transition; Lists Innovative Financing Instruments to...

Kwesi Appiah: The Ghanaian Legend Rewriting Sudan’s Football Story Amid War

August 26, 2025

Cadillac Signs Sergio Perez and Valtteri Bottas for 2026 F1 Debut

August 26, 2025

FEC 2025: Energy Minister Warns African Gov’ts Cannot Sustain Energy Financing Burden; Urges Stronger Private Sector Role in Continent’s Energy Financing

August 26, 2025

ACEP Pushes for Bold Financing Models to Tackle Africa’s Energy Poverty at FEC 2025

August 26, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.