The former minister of finance and former governor of the Bank of Ghana Dr. Kwabena Duffuor has said the NPP government has forced the electronic transfer levy on Ghanaians because they turned a deaf ear to wise counsel from economic experts such as himself.
Lamenting on his Facebook wall the morning after the e-levy was passed, he said, “Dr. Duffuor said, “The NPP has progressed in their passage of the unpopular e-levy bill. May it be on record that despite the hardship of the Ghanaian people and disaffection for the e-levy, the NPP ignored these concerns and added to our tax burden.”.
Many Ghanaians are expressing public indignation against the NPP government for the passage of the electronic transfer levy yesterday in parliament despite a lack of popular support from the general public, a boycott Boyes from the opposition as well as warnings from economic experts.
Just like many well-meaning and experienced economic experts, Dr. Kwabena Duffuor has in the past, offered several suggestions of several alternatives to the roundly unpopular E-levy.
Speaking on Tuesday, February 21, 2021, on star FM ahead of the IFS’s forum on domestic revenue mobilization mode, Dr. Duffuor said, “Currently in Ghana, foreign interests are largely the main beneficiaries of our extractive sector at the expense of Ghanaians who benefit from very little revenue from our natural resources”.
He also added. ‘’we must start looking at the sector we have ignored over the years - the extractive sector. A well-managed natural resources centre has emerged as the safest route to prosperity in many developed countries such as the USA, UK and Germany. We must go back and renegotiate our mining agreements for higher revenues rather than stick to colonial agreements to the detriment of our people”.
As a man who once headed the bank of Ghana and run the finance ministry, perhaps the NPP government could have made use of his views on how to proceed with its revenue mobilisation efforts as opposed to taxing an electronic mode of payment.
However, like other contrary views from other non-NPP economic experts, the former bank of Ghana governor’s views were not taken into consideration.
Source: King Edward Ambrose Washman Addo/peacefmonline.com/ghana
|Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.|