FLASHBACK: Gov’t will tax the petroleum sector if E-levy fails – Ken Ofori Atta

Former Finance Minister Ken Ofori-Atta revealed that the government may turn to the petroleum sector for taxes if the controversial E-levy bill is not passed.

Speaking to journalists in Accra on Friday, February 18, 2022, the Minister explained that the government is exploring all possible options to raise more revenue, stressing the need for public support and engagement on the matter.

“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.

Defending the E-levy, Ofori-Atta questioned the level of resistance the bill had received, noting that its impact on individuals would not be as significant as critics suggest.

“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.”

He also pointed out that while other alternatives like taxing petroleum exist, they might not be in the public’s best interest.

“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.