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E-levy Not Efficient In Dealing With Economic Challenges; It Taxes Savings – Terkper
A Former Finance Minister Mr Seth Terkper has said the e-levy tax is not efficient in dealing with the challenges facing the economy.
In his view, the e-levy taxes savings of Ghanaians.
“E-levy not efficient since it taxes savings & worse, worsens distortion of general expdx tax (VAT). 2nd, the ‘straight levies’ (GETFund/NHIL) block credit & refunds to VAT-registered firms. Hence (3rd), as with all 10 plus new & retained levies since 2017, it adds to cost & prices,” he tweeted on Monday April 19.
