E-Levy to be reviewed – Ofori-Atta hints

Finance Minister Ken Ofori-Atta has hinted that government will soon review the Electronic Transfer Levy (E-Levy).

All electronic money users, including mobile money customers, are charged 1.5 percent of accumulative transfers exceeding GH¢ 100 in a day.

According to the Ministry of Finance, the proceeds from the E-Levy are woefully below projected numbers with only about 10 percent of the projected GH¢600 million monthly being realized.

Speaking at a briefing in Accra on Wednesday, Ken Ofori-Atta said that the review of the E-Levy forms part of measures to help improve the government’s domestic revenue mobilisation.

He added that the review is also targeted at ensuring that many Ghanaians pay the levy.

“Such exercises form part of an ongoing drive to ensure we take significant steps forward in remedying long-standing challenges with domestic revenue mobilization, indiscipline, corruption, and leakages.

“Of course, heightened tax compliance and increased tax audit exercises will continue to be complemented by policy initiatives that allow us to tap into a wider pool of taxpayers in the years ahead.

“Towards this, we are looking at areas around the E-Levy to ensure its efficient implementation,” he said.

Thanks for reading!