 |
January 14, 2026, 10:29:40 PM |
|
I think about this new implemented tax reforms almost everyday when I transact by doing transfers or using a debit card, because I get to pay for VAT and most times I get double charged because retail traders are still confused on how it should go and try to avoid losses by requesting more charges or fees from their customers who go cashless with debit cards or transfers after transactions.
This tax reform is like a tussle between good and bad, because while it aims to make the economy more formal, it is causing more hardship for even the poorer class who may have to start using cash only for transactions because of the unnecessary extra charges for transfers and debit cards. I may even begin to reason at a time that this reform policy may just have created a divide and financial friction among the financial class of the economy and this makes things like financial inclusion and a cashless economy quite difficult to efficiently achieve. *sincerely, do you as a citizen having already started witnessing this new tax remittance policies, actually support that it helps the aim of running a cashless economy with financial inclusion? or is it doing so well to create a divide and cause financial friction for citizens of different classes, in this country?
|