I almost died under NDC’s 17.5% financial services levy – Oda MP reveals

The Member of Parliament for Akyem Oda constituency, Alexander Akwasi Acquah, has said that his commitment towards the passage and acceptance of the controversial electronic levy [E-levy] as a major source of revenue for Ghana’s development, is based on the fact that, its effects can not be compared to some of the “obnoxious taxes” under the National Democratic Congress regime.

According to Mr. Acquah, who is also an entrepreneur, he secured loans to establish his hospital businesses and he almost died when he was required to pay 17.5% Value Added Tax (VAT) on the loan he had acquired as a financial services levy.

“I was torn between taking the loan I had pursued over a period together with other bank charges and abandoning the process because it was going to be expensive,” the MP disclosed on Atinka TV’s ‘Ghana Nie’ programme, Thursday, February 17, 2022.

The MP said eventually he had to take the loan to continue his business, which has employed a lot of health workers.

Mr. Alexander Akwasi Acquah says if Ghanaians survived under those taxes which were “killing”, why will anyone think that e-levy will kill Ghanaians.

He urged Ghanaians to embrace the new tax regime which is homegrown and will contribute to the ‘Ghana beyond Aid’ agenda being pushed by the administration of President Nana Akufo-Addo.