Professor Kwaku Azar has reacted to E-Levy update from finance minister, Ken Offori Atta and suggest that government should take the electronic transactions tax introduced by government in the 202 budget off the table and do this as finance minister has stated that, both majority and minority should come together and have proper conversation on it.
Prof Kwaku Azar stated that he have seen what appears to be some exceptions to the E-levy without any reference to how it will affect the targeted revenue, the proposed cost of collection or even the eleven million jobs that the levy is supposed to create.
To him, these revisions suggest that the idea is largely a work in progress and is unlikely to meet its targets and further worsening the budget crisis.
He advised government that they should take the E-Levy off the table and study it carefully before bringing it back to the table. He put his suggestion in a question form below.
"Why don’t we take this E-levy off the table, study it carefully, along with other options such as E-invoicing, and come out with a fiscal instrument that can widen the tax net but that is also neutral, progressive and efficient?" Prof Kwaku Azar stated after Ken Offori Atta told the public that the E-levy is important to government.
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