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HomeNewsGHC44m spent by beauty industry in online transactions – Ursula

GHC44m spent by beauty industry in online transactions – Ursula

The Communication and Digitization Minister, Ursula Owusu Ekuful, has said the Electronic Transaction Levy (E-levy) would not amount to double taxation.

She disclosed that over Ghc44million was spent by the fashion and beauty industry through electronic platforms depriving the Ghana Revenue Authority (GRA) the needed tax component.

“Businesses have move from physical locations to online outside the reach of the GRA, depriving the government of much the needed revenue. We need to revert that and the E-Levy would do that. It would enable the government to build proper digital infrastructure, create digital market place which would connect buyers and sellers,” she explained.

Speaking during the government’s town-hall meeting at the Eastern Regional Capital – Koforidua, the Minister noted that the revenue generated would also afford the government to curtail cyber-crime in the country.

“When you use a credit or a debit cards you pay between two to three percent transaction fees and the levy is on the lower end of the total cost. All bank transfers also attract bank charges so it is not true that this is going to be double taxation or tax our capital as well.

“We would have funding for the road construction and maintenance and more reliable payment for existing contracts, to reduce the overall burden on the government. Such infrastructure development would also create more jobs for the youth and cut down on youth unemployment. As YouthStart would also do,” Madam Owusu Ekuful stated.

The Communication Minister said the nation would have to find ways in increasing domestic revenue mobilization to fund the many social and developmental issues its confronted with.

“If the funds are generated internally, we will either go and beg for aid, borrow and so we cannot continue to go borrow and beg to finance our development. The government is seeking to meet its agenda of Ghana Beyond Aid and this requires all of us to support the E-levy and contribute our quota to national development.

“More financing inclusion and digitize empowerment in our society would also ensue. The seventeen Sustainable Development Goals are there for the government to achieve including reducing gender equality, education, providing clean water and sanitation,” Mrs. Owusu Ekuful added.

Source: Ghana/ Dzidzoamenu



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