Tax expert calls on GRA to tax online businesses and digital business transactions
- Dr. Abdallah Ali Nakyea, a tax analyst, has admonished the Ghana Revenue Authority (GRA) to consider taxing online business transactions
- He explained that it could be a potential source of revenue for the GRA since businesses are moving operations online
- Dr. Abdallah added that COVID-19 has negatively impacted sources of revenue for the government
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A tax analyst, Dr. Abdallah Ali Nakyea, has called on the Ghana Revenue Authority (GRA) to consider taxing digital business transactions.
He explained that the outbreak of the coronavirus has compelled most businesses to go online.
For that reason, he went on, it is imperative the GRA gets creative in its revenue mobilization agenda.
Source: UGC
READ ALSO: Ghana to lose over GHC15 billion in revenue due to COVID-19
Per a report by citibusinessnews.com, he added that it would eventually lead to an expansion in sources of revenue in order to meet or exceed revenue targets.
YEN.com.gh understands that COVID-19 has negatively impacted sources of revenue for the government.
It has also led to a slowdown of economic activities all over the world.
The digital economy has meanwhile experienced an upsurge in use as more businesses resort to the internet to stay afloat.
Sharing his opinion on the economic impact of the pandemic, Dr. Nakyea indicated that said taxing the digital economy should reduce the burden on the regular businesses whose operations have been adversely impacted by the pandemic.
Meanwhile, YEN.com.gh has learned that plans are in place to roll out the “The Ghana Cares Programme” to save the economy from COVID-19.
The three-year programme was drawn to match the projected duration of the coronavirus in Ghana.
The Finance Minister, Ken Ofori-Atta is reported to have earlier projected that Ghana’s economy may take three years to recover from COVID-19.
READ ALSO: COVID-19: Government confirms receipt of GHC5.5 billion from Bank of Ghana
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Source: YEN.com.gh
