President of YAFO Institute Nathanial Dwamena has advised the ruling government to scrap the Electronic Transfer Levy (E-Levy).
He believes the E-Levy is not only a nuisance tax but has also not generated the expected revenue.
According to Mr. Dwamena, there is no need for the government to maintain the levy.
He indicated that the implementation of the levy was met with resistance from the Ghanaian public and civil society organisations, including YAFO Institute.
Scrapping the E-Levy, he argued, would bring relief to businesses, entrepreneurs, and young professionals who use mobile money for everyday life activities.
He was speaking on the sidelines of the decentralised business empowerment workshop organised by YAFO Institute for businesses on the use of Blockchain technology, stable coins, and cryptocurrency in improving payments systems.
“At YAFO Institute, our interest has been to fight for businesses. We take bold steps in demanding initiatives that will help businesses grow or expand, and not policies that will undermine their growth. The E-Levy and the other huge taxes introduced by the previous government were a nuisance to business owners and affected their growth. We opposed the E-Levy, and we have not departed from that position.
So if the new administration seeks to scrap it, that is good news. It will bring relief for businesses, entrepreneurs, and young professionals who use mobile money for everyday life activities. This will promote growth, and if these businesses expand, they will employ more people.”
He maintained that the role of government should be to create an enabling environment where businesses are not burdened with nuisance taxes, as that can discourage them from expanding.
By: Rainbowradioonline.com/Ghana
