A Lecturer at the University of professional studies, Dr. Kweku Mensah Mawutor, has indicated that the electronic transaction levy (E-levy) proposed by the government in the 2022 budget is one of the smartest initiatives by this current administration.
Dr. Kweku Mensah Mawutor made this statement on 'HOT NEWS' on Pan Africa television yesterday, 17th November 2021, when he reacted to the proposed introduction of the electronic transaction levy by the government.
According to Dr. Kweku Mensah Mawutor, the E-levy or the Electronic Transaction Levy, which has been proposed by Finance Minister Ken Ofori Atta in the 2022 fiscal budget is one of the smartest initiatives by this government.
Dr. Kweku Mensah Mawutor indicated that we are all moving into the digital and electronic space for business transactions, so it has become expensive to do business physically. Therefore, it is prudent for the government to tax transactions in that space.
Dr. Kweku Mensah Mawutor said that people are doing business in their bedrooms. Very soon people will not need shops anymore, which will eventually reduce the prices of shops. So, very soon, shops will be used as warehouses, but not where to go and buy things because the electronic spaces have simplified how businesses are done.
"That is why there is commendation for the urge by the government to digitize the economy because we are all heading towards that space. However, my issue here is the people who are being targeted."
Dr. Kweku Mensah Mawutor asked if it is the ones spending who are being targeted or the ones generating revenues who are being targeted by this Electronic Transaction Levy? According to him, many people are in the electronic spaces and platforms, who are not paying taxes, but they are selling. So, how has GRA been able to reach out to these people to collect taxes?
He added that he would have wished that the E-levy is placed on persons generating revenues in the digital space rather than the people who are spending.
Content created and supplied by: Hope360 (via Opera News )
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