Sunday, 22 December

A-Plus asserts: Ghana would 'generate so much revenue' were gold-smuggling checked

News
Kwame A-Plus

“This is absolutely true,” Gomoa Central MP-elect Kwame Asare Obeng (A-Plus) has conceded, reacting to a publication that noted Ghana would lose GHS6.4 billion if the controversial electronic and COVID levies were abolished.

However, writing on Facebook, the entertainer-turned-politician argued while the scrapping of the e-levy and COVID levy would leave a vacuum in the national coffers, relief could be readily gained if gold smuggling was checked.

Furthermore, despite the concession, he categorically frame the said levies as burdensome and harmful.

“What is also undeniable is that if we can put an end to gold smuggling – particularly the gold smuggled through clandestine networks to places like the United Arab Emirates – we would generate so much revenue that there would be no need to burden our citizens with taxes on remittances sent to their families in rural areas,” he said.

The construction entrepreneur cited, “Between 2019 and 2021, Ghana reportedly lost approximately US$1.1 billion in revenue from gold exports.

“Many of us are familiar with Al Jazeera's Gold Mafia documentary, where Alistair Mathias, a Canadian citizen, claimed to smuggle around US$40 million worth of gold out of Ghana every month on behalf of high-level state actors.

“Similarly, the British government estimates that Ghana loses about US$2 billion annually due to tax evasion, smuggling, and illegal gold operations.

“In 2022 alone, nearly 60 tonnes of gold were reportedly smuggled out of the country, deepening our financial losses.”

“It is time to stop burdening the poor,” A-Plus advocated.

“A country blessed with such abundant resources does not need to rely on harmful taxes for development. God has provided Ghana with more than enough.”

He challenged, in conclusion, “What we truly need is to put our minds to work. The human brain is not pay-per-use; it is free. Let us use it wisely and to the glory of our Maker.”

Source: classfmonline.com/Prince Benjamin