President Nana Addo Dankwa Akufo-Addo has applauded the passage of the controversial 1.5% Electronic Transfer Levy (E-levy) by Parliament.
He said despite the rejection and anger the bill had incited, he is happy about the new tax measure has finally been given approval.
Delivering the State of the Nation Address in Parliament on Wednesday, March 30, 2022, the President said the passage of the e-levy presents an opportunity for Ghana to revive its economy.
“Mr. Speaker, despite the protracted and sometimes acrimonious nature of proceedings, I am happy that the House has, finally, found it possible to pass the e-levy. I believe the levy is going to make a significant contribution to revenue mobilisation and the management of the economy, and I want to thank Members of the House for making this possible.”
President Akufo-Addo acknowledged the difficulties Ghana is expected to encounter in salvaging the struggling economy from collapse.
He was however confident that the government’s recent measures will yield positive results.
“The road to recovery will be hard and long, Mr. Speaker, but we have started on a good footing by accepting that we are in a difficult place, and are taking the difficult decisions that will get us out,” the President told the House.
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