Third, the Ministry of Finance, Minister of Foreign Affairs and Regional Integration, and Bank of Ghana, together with their development partners like the World Bank, need to come to a judgment as to whether or not remittances are likely to be a permanent phenomenon in Ghana’s Balance of Payments (BoPs). Drawing on the experience of other countries which have managed significant inflows of remittances (Bangladesh, El Salvador, Jordan) could be an important starting point. Also, conducting a comprehensive survey to assess the actual scale of remittances and labour migration would help the authorities develop a well-defined strategy to maximize the benefits of remittances while minimizing any negative repercussions.
Mr Isaac Kwabena Amoako, a member of the E-Levy Technical Committee, says the collection of the E-levy will increase the country’s tax-to-Gross Domestic Product ratio from 12.5 per cent in 2021 to 20 per cent by 2024. He said out of the country’s population of over 30 million, only 2…
E-levy will increase Ghana s tax-to-GDP ratio from 12 5% to 20% by 2024 modernghana.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from modernghana.com Daily Mail and Mail on Sunday newspapers.