E-Levy debate: A wasteful government has no moral right to impose taxes – Kofi Amoabeng

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Retired military officer and a businessman, Captain Rtd. Prince Kofi Amoabeng has opined that the government has no moral justification to burden the citizens with more taxes.

This comment from the founder and CEO of the defunct UT Bank follows the heated debate in the country on the government’s proposal in the 2022 Budget Statement to impose a 1.75percent levy on all electronic transactions. This E-levy, the government says will help to mobilize more revenue to revive the economy from the devastative impact of the COVID-19 global pandemic.

Speaking in an interview monitored by ABC News, Prince Kofi Amoabeng admitted that governments all over the world depend on domestic revenue mobilization avenues such as taxes to run their countries. He however indicated successive governments in Ghana are only interested in imposing more taxes to raise revenue but fail to reduce unnecessary and extravagant expenses.

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According to him, the government has no moral justification to burden Ghanaians with additional taxes when the leaders are living a luxurious and lavish lifestyles.

He is therefore calling on the government to rather stem the rampant corruption in the system, cut down the luxurious lifestyle of politicians and reduce the huge remunerations and allowances enjoyed by the political class.

He believes such drastic measures will reduce the waste in the system and hence provide more revenue for development without over burdening the citizens with numerous tax obligations.

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“Government needs taxes to run the economy. Whether its should be E-levy or whatever, is where I have a problem. I will say my problem with the government and governments generally is that they don’t think about cutting cost. The only think about raising more revenue and they are not putting in measures to ensure that we avoid waste,” the founder of defunct UT Bank opined.

He continued that, “when you have it you can spend it but when you don’t have it you don’t just spend and put the burden on the people. The expenses, corruption in the system, remunerations, the allowances and the lifestyles of the politicians do not merit them to impose more taxes. Leadership is by example.”

“If you are flying in all sort of jets, giving allowances to spouses, ministers and politicians are seen driving SUVs sometimes 40 in a convoy; you don’t come to the people and tell them you need special taxes,” he stressed.

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SourceABC News

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