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WE WILL TAX THE PETROLEUM SECTOR IF E-LEVY BILL FAILS – Finance Minister, Ken Ofori Atta

The Minister of Finance, Ken Ofori-Atta, is hopeful that the contentious 1.75 percent electronic transaction tax would be authorized, despite the fact that the current discussion on the controversial 1.75 percent E-levy is encountering some criticism from a sector of the population.

Ken Ofori Atta told journalist in Accra at an event that if the law is not passed by the House of Commons, the administration would look for another way to earn cash.

He revealed that the company would turn its focus to the petroleum industry.

“There are always a lot of options, but you’re really looking at the future and seeing how we can address the problem of more revenue and everyone engaging,” he said.

“The challenge is, for example, assuming you earn a million cedis a year and you transfer all of that through MoMo. What am I asking of you? GH¢15,000. Is that what you have been fighting against? Or if you are a student and assuming your earn GH¢100,000, which is unlikely, that means what, a GH¢1,500.

“So you then begin to ask the question, what is it that we are fighting against? And if I have also said the first hundred cedis will not be a part of it which means 3000 monthly income.”

“The alternatives are many, you can go into petroleum, but is that really what you want? The mood of the country is different from the arithmetic in Parliament and that is why I have gone around,” he added.

Source: NKONKONSA.com 

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