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Business News Thu, 4 Jun 2020

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Raise revenue from online businesses – Prof Quartey to govt

Given that online businesses are booming at the moment following the covid-19 outbreak, the Government of Ghana, should, through the Ghana Revenue Authority (GRA), consider raising revenue from these online traders.

He said this will enable the government get additional funds to support its expenditure on the wake of the pandemic and its effect on the local economy.

His comments come at a time the Finance Minister Ken Ofori-Atta is expected to present a Mid-Year budget review and a Covid-19 Alleviation Program next month.

Prof. Quartey told Joy News, “I think I will propose two measures, one is expenditure prioritization – where the finance minister will look at the items of expenditure, look at the ones that are critical and look at the ones that can be postponed so that he’s able to manage his expenditure within the limited budget that he has.”

He added, “The second option will be to look at how he can enhance revenue. Some countries have increased the VAT, others have used other measures.

“But I think currently we are seeing more online business flourishing so perhaps the Finance Minister through the GRA might want to look at some of these options where they can raise revenue from online business.”

Source: laudbusiness.com

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