IMF Support: E-levy Stays – Finance Ministry
supply: aveaonetv
BUSINESS
The Finance Ministry has indicated that government will no longer cancel the 1.Five percentage levy on digital transactions, despite its software to the International Monetary Fund (IMF) for monetary aid.
According to the government, the proceeds from the levy will supplement the support from the IMF with the intention to shore up the united states’s financial fortunes.
This was contained in a statement from the Ministry on Tuesday, addressing key questions regarding government’s ongoing engagement with the Fund.
It states that “NO. The IMF lending to Ghana could be for balance of payments guide (i.E. To shore up the worldwide reserves).
“Government is committed to ensuring the clean operationalisation of all taxes inclusive of the e-levy to make certain that in addition to the IMF’s sources, government can keep to assist its developmental goals on its own even as ensuring that tax-to-GPD ratio will increase to the peer variety of 16%-18%.
“An IMF-supported programme is in all likelihood to inspire the government to research the factors hindering the achievement of the e-levy (together with by means of presenting technical help if needed) and come out with strategies to enhance it”.
The Finance Ministry additionally cited that additionally, different tax measures may be considered for the medium-term.
By Vincent Kubi
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