Seth Terkper, Former Finance Minister
E-Levy might not yield its target this year, Seth Terkper
The implementation of the Electronic Transfer Levy began in May
E-Levy is generating only 10% of estimated revenue, Gabby Otchere-Darko
Former Finance Minister Seth Terkper has described the recently passed Electronic Transfer Levy as an overhyped
Read full articlerevenue generation measure introduced to increase the country's revenue.
The E-Levy since its introduction faced rejection from both the minority in parliament and some Ghanaians.
The E-Levy which was amended from 1.75 % to 1.5 % was expected to rake in about GH¢7 billion but the downsize of the percentage has revised the projected amount to GH¢4.2 billion.
Debates on the floor of Parliament dragged the passage of the E-levy from January to May.
Speaking in a virtual forum on the state of the Ghanaian economy monitored by Citibusinessnews, Mr. Seth Terkper said the E-Levy is an overhyped policy that would likely not meet its target.
“I think the E-Levy is overhyped and it’s not going to achieve its targets. I stand for correction. We’ll wait to see especially since its implementation was delayed from January to May. So it might not yield its target this year, but maybe next year.”
Meanwhile, in a recent Twitter post, a leading member of the New Patriotic Party Gabby Asare Otchere-Darko revealed that the E-levy has been delivering only 10% of its estimated revenue since its implementation.
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