Dr Forson Reiterates Commitment to Abolish E-Levy and Betting Tax

Accra: Dr Cassiel Ato Baah Forson, the finance minister-designate, has reaffirmed his commitment to removing the Electronic Transfer Levy (E-Levy) and the betting tax in the government's first budget. Those taxes, he explained, hindered economic progress, with the E-Levy discouraging digital transactions and obstructing Ghana's move towards a cashless economy. Dr Forson made the remarks on Monday when he appeared before Parliament's Appointment Committee to be vetted.According to Ghana News Agency, on Thursday, January 9, President John Dramani Mahama submitted his first batch of ministerial nominations to the Speaker of Parliament in accordance with Article 78 of the 1992 Constitution. The nominees are Dr Cassiel Ato Baah Forson, Finance; Mr John Abdulai Jinapor, Energy; and Dr Dominic Akuritinga Ayine, Attorney-General and Minister of Justice.Dr Forson argued that the betting tax generated minimal revenue, making it unnecessary. '.Mr Chairman, I insist that the betting tax must be abolished, and as fina nce minister, I will abolish it in my first budget because it has failed,' he stated.The finance-minister-designate also emphasised the importance of compliance in enhancing Ghana's revenue, noting that there was no need to increase taxes given the country's substantial potential in revenue mobilisation. '.Mr Chairman, I don't know how to classify it as a tax practitioner. It doesn't mean that I do not recognise that the levy brings in a certain amount of revenue, but the fact remains, e-levy retards the progress towards a cashless economy. We need to abolish it,' Dr Forson said.'I have said that given the opportunity, I will abolish the e-levy. I want to restate that position that if approved, as part of the first budget, I will announce that we will abolish the levy as part of our first budget,' he said. President John Dramani Mahama had said that as part of his first 120-day agenda, he would abolish the e-levy, and we stand by that.'He, therefore, pledged to raise the tax revenue-to-GDP ratio from 13 .8 per cent to 16 per cent if approved.