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E-Levy Will Not Be Cancelled, IMF Won't Replace Ghana's Revenue Flows – Yaw Buaden Boldly Reveals

Yaw Buaben Asamoa, the New Patriotic Party's (NPP) director of communications, has stated that the decision to approach the IMF will not result in the E-levy's cancellation. According to him, Ghana's revenue flows will not be replaced by the IMF program.

Some observers, like Mr. Benjamin Boakye, Executive Director of the Africa Centre for Energy Policy (ACEP), argued the e-levy ought to be eliminated after it was revealed that Ghana was looking for IMF assistance. On Monday, July 4, he declared that it was clear from the start that the e-levy would not succeed on the New Day show with Berla Mundi on TV3.

When asked if the government's choice to consult the IMF should result in the cancellation of the e-levy, Mr. Boakye responded, "The e-levy, we told government it was not going to work from the start and they did not listen. It is one of the reasons we recognized we were only getting 10% when we woke up one day.

It is a simple economic fact that the poor are more capable of resistance if you try to tax them. You would much prefer see the impoverished become large and start paying taxes. If you look at our Gross Domestic Product (GDP), the formal sector accounts for 71% of it.

That means that if you try to spend more money to target the 30% of the poor, you would not gain any money from there since the leakages are in the formal sector. The data, which the government refused to examine, make it clear. He said, "I think that has to go.

However, Mr. Buaben Asamoa, a former MP for Adentan, remarked on the newspaper review portion of the New Day show with Johnnie Hughes on TV3, Monday July 4, "we will not cancel it, we will not cancel the e-levy because we need to calibrate it well and see how it will perform. "We still need to raise revenue because the IMF is only a month old and cannot replace our current funding streams.

Link: https://3news.com/govt-wont-cancel-e-levy-buaben-asamoa/

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Benjamin Boakye E-Levy Ghana IMF New Patriotic Party

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