Ministry of Finance Refutes Allegations Against GHC 241 million Revenue Monitoring and Assurance cost

The Ministry of Finance has debunked allegations that the Ministry has earmarked some GHC 241 million has not been earmarked to a private company for purposes of revenue collection, monitoring and assurance, under the E-levies.

In a statement to the media, the Ministry described the allegations as untrue.

The Member of Parliament for the North Tongu constituency in the Volta region., Hon. Samuel Okudzeto Ablakwa had described as sleazy the Revenue Monitoring and Assurance component of the E-levy.

Reinforcing the Minority’s position to the E-levies in an interview, Mr. Ablakwa described the Revenue Monitoring and Assurance allocation as dubious and needless.

This position was endorsement by Member of Parliament for the Ningo Prampram constituency, HON. Samuel George, who described the allocation as a create loot and share scheme.

However, in the Ministry’s response, they note that the above suggestions are unfounded.

According to the Ministry, the ¢241 million is a reserve that is intended to be put aside to facilitate Ghana Revenue Authority’s collection of the E-levies.

The Ministry clarified that as practice, the Ghana Revenue Authority uses up to 3% of the money it raises for ensuring that they can make such collections.

‘‘Additionally, typically when we have new tax measures, there is the issue of refunds and we usually make some compensation for that, sometimes 6% or so of the value to ensure that if those refunds come, we can pay for them”, the statement added.

The statement further clarified that the allocation to GRA will serve as  buffer against  all the problems that people envisage and the difficulties other countries have had, implementing E-levies.