General NewsPolitics

Implementing E-levy amounts to double taxation – Duffuor to government

A former Finance Minister, Dr Kwabena Duffuor has described as problematic, government’s decision to introduce an electronic transaction levy (E-levy) as an innovative way to replace the scraped road toll.

Speaking at a lecture themed, “Ghanaian Dream: Transforming the Economy through the Creation of Jobs and Opportunities for All,” the former Governor of the Bank of Ghana explained that e-transaction is a mode of payment, thus, imposing the tax is unrealistic.

He further added that it will lead to double taxation, since the underlying income would have normally been taxed already.

“It should be noted that taxes/levies are imposed on income, gifts, consumption and held properties or assets. Electronic transfers and payments are none of these.

“This makes the proposed E-levy problematic because it could be fraught with serious implementation challenges. This tax could undermine the Ghanaian Digital Economy,” he said.

However, a section of Ghanaians including the Minority in Parliament and some economists have kicked against this proposal.

The opposers argue that the move will intensify the hardships of the average Ghanaian.

But the government insists that the new form of taxation will stimulate the growth of the economy and create more jobs.

According to him, the government must invest in Technical and Vocational Education (TVET).

He stated that a country cannot tackle joblessness without prioritizing education, thus, Ghana must place vocational and technical training at the center of its educational system.

Citing countries like USA, China, and Germany, Dr. Duffour said these nations have developed strong manpower through TVET that is continuously growing their economies.

KASTLE90.3FM – tune in or log on to broadcasts online
Follow us on Twitter: @kastle903fm
#kastle90.3fm, Cape Coast
#…Blending tradition with style
Source: myjoyonline.com
Tags
Show More

Related Articles

Leave a Reply

Your email address will not be published.

Close