Finance Minister, Ken Ofori-Atta, has hinted that government will soon review the Electronic Transfer Levy (E-Levy).
This comes some months after the controversial tax measure was passed by a majority-backed parliament and implemented. It imposed a 1.5 percent charge on electronic transfers covering mobile money, bank transfers and
Subsequently, after the tax was introduced, the Ministry of Finance announced that proceeds accrued from the levy fell below the intended target. It said about only 10 percent of the projected GH¢600 million monthly revenue was being realised.
But Ken Ofori-Atta speaking at a press briefing in Accra on September 28 said the review of the E-Levy forms part of measures to help improve government’s domestic revenue mobilisation.
The Finance Minister explained that the review is also intended to ensure that the Ghanaian populace can pay the levy on electronic transactions.
“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,” Ken Ofori-Atta said.
“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 therefore we are looking at areas around the E-Levy to ensure its efficient implementation,” he explained.
Finance Minister, Ken Ofori-Atta
