Business News of Wednesday, 5 April 2023

Source: www.ghanaweb.com

Today in History: 'Ghanaians are not impoverished' – Akufo-Addo tells BBC

President Nana Addo Dankwa Akufo-Addo President Nana Addo Dankwa Akufo-Addo

President Nana Addo Dankwa Akufo-Addo, whiles speaking to the BBC on April 5, 2022, noted that Ghanaians are not impoverished.

He said the citizens pay fewer taxes as compared to other African countries. He made the statement when he was asked about the implementation of the electronic transfer levy.

Read the full story originally published on April 5, 2022, by GhanaWeb

President Nana Addo Dankwa Akufo-Addo has somewhat downplayed the current plight of citizens in the country amid the country’s ongoing economic challenges.

According to him, the passage of the controversial tax measure known as the Electronic Transfer Levy is vital for economic recovery as he believes Ghana is rather undertaxed, compared to other African countries and the world at large.

Speaking in an interview on BBC Africa aired on Monday, April 4, 2022, with Peter Okwoche, President Akufo-Addo, in response to a question about the E-Levy, said he does not believe Ghanaians are impoverished hence the need to tax the mobile economy is apt.

Here are some extracts of the interview as sighted by GhanaWeb on BBC Africa’s Facebook page.

BBC: You think it’s necessary to tax people who are already impoverished?

President Akufo-Addo: They are not already impoverished. We are talking about the taxing industry and what transactions where a lot of value is being created. And we want to also bring that value into government coffers.

That is something that is very… and the E-Levy is not like Ghana is the only country that has something like a mobile tax. Many, many countries, will not like it…

BBC: Because they are already taxing people who do business online, and you are taxing as well.

President Akufo-Addo: Very little…People never like taxes. I don’t know any group of people, especially businesses, when taxes are brought to them, that like it.

BBC: Mr. President, when you hear all these stories, Ghana was one of the rising stars of the economic recovery of Africa, so to speak, you know, but when you hear about all these issues, what exactly went wrong?

President Akufo-Addo: Nothing has gone wrong. We’re are part of those who have been very badly affected by what has gone on in the last two years.