Good News To Government As Opposition Parties Propose Alternative Sources Of Revenue To The E-levy

One of the cardinal points of democracy is that the view of the majority is supreme, but the opinions of the minority are taken into consideration. As an opposition party, it beholds you not to only critic a policy by the ruling party, but also to provide an alternative cause of action. In the face of the intense debate about the proposed 1.75% electronic transactions levy, otherwise known as E-levy, the majority in Parliament have accused the opposition parties of only rejecting the levy but not professing alternative ways to raise the needed revenue for the development of the country.

The opposition parties have responded to that call and have come out with other means the government can raise funds for development rather than the imposition of the E-levy. The opposition National Democratic Congress has suggested that, among other things, the government should bring back the tollbooths on our roads to collect taxes from drivers who ply the roads and the government must protect the public purse to minimize the financial leakages due to various infractions in the public sector.

Bernard Monah, a leading member of the opposition People’s National Convention party has also suggested some alternatives to the electronic transactions levy to the government. Bernard Monah who was speaking on today’s episode of Alhaji and Alhaji ( December 11) indicated that, the government the raise the needed revenue for the development of the country. According to Bernard Monah, the state can raise funds by cutting down the tax exemption it gives to businesses.

He asserted that research indicates that Ghana losses about 1.6 billion dollars each year through tax exemptions; far more than the about $1 billion projected for the E-levy. He added that the country can also raise the needed revenue if it cuts down on the tax holidays it gives to expatriate start-up companies. He alleged that most of these companies intentionally fold up when the tax holidays are over, and metamorphose into another company to enjoy the tax holidays again.