Mr. Seth Emmanuel Terkper, a Chartered Accountant and a Former Minister of Finance and Economic Planning has reacted to recent news making rounds in the local media that he has made statements in support of the passage of the Electronic Transactions Levy (E-levy) which is currently before Parliament.

In a press release sighted by InsiderGH.com, Mr. Terkper described the E-levy as the “most nuisance of nuisance taxes” because, by taxing “savings” in electronic wallets’ government is among others, discriminating against savers using electronic ‘wallets’, instead of banks and pillows, to save.

“This offends the principle of fairness in taxation,” he added.

According to him, the E-levy is the most nuisance of nuisance taxes because when passed, it will compel customers to pay tax on the “wallet” transfers but will not apply to those using cheques and other conventional means.

He also indicated that the E-levy will lead to double or multiple taxation of savings that may have attracted the conventional taxes already.

Below is his full press release;

Statement-on-E-Levy-Seth-Terkper.docx

Source: InsiderGH.com

           

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