Minister for Finance Mr Ken Ofori-Atta has indicated that there is no revision of the 1.75 per cent Electronic Transaction Levy (E-levy) due to serious fiscal implications.
“We will continue our consultations with the Minority Caucus in Parliament and other relevant stakeholders with a view to achieving consensus and reverting to the House in the shortest possible time,” he said.
The minister said this when he took his turn at the ‘Meet-the-Press-Series’ organized by the Ministry of Information on Monday.
He said putting a levy on electronic transfers was a reflection of the new reality and an innovative way of raising revenue for the government to provide the needed infrastructure.
Mr Ofori-Atta however called on Ghanaians to bear with the government as the implementation stage of the new cutting-edge initiative would come with some challenges.
He said the government had taken note of the concerns of Ghanaians to be efficient with the public expenditure.
Mr Ofori-Atta said the approach capitalised on the new digital age and the advent of e-money and the proliferation of online transactions.
“Most of us today are just as comfortable ordering food online or clothes from a virtual shop as we are walking into a shop or a restaurant. We need to review our approach to tax collection to reflect this new reality”, he added.
In the 2022 budget, he said, government was committed to consolidating its efforts through the use of the Ghana Integrated Financial Management System (GIFMIS) in initiating and processing all requests.
“Additionally, GIFMIS will be retooled to allow potential contractors and suppliers to verify and confirm availability of funding for Awards of Contract,” he added.
Mr Ofori-Atta also mentioned that the 2022 budget would set the country on a path of irreversible transformation from dependence on the State to individual enterprise and a generation of job seekers to a generation of job creators and from a place of inertia and uncertainty to enterprise, innovation and progress for all.
He said the National Budget remained the single most effective tool to address the greatest challenges of the nation.
“As a country, we cannot allow such a strategic national tool to be held hostage by partisan interests, especially when the consideration stage offers every opportunity for such redress,” Mr Ofori-Atta added.