The fact that the current administration has cut the contentious Electronic Transfer Levy (E-levy), according to deputy finance minister Dr. John Kumah, shows that they are a receptive government.
The fact that the rate was lowered to 1%, he remarked, “shows that we are a listening government.”
E-levy
The Ghc100 daily threshold has been eliminated, which has resulted in the e-levy rate dropping from 1.5% to 1%, according to Finance Minister Ken Ofori Atta, who presented the 2023 budget statement.
“Review the E-Levy Act and more specifically, reduce the headline rate from 1.5% to 1% of the transaction value as well as removal of the daily threshold,” Ken Ofori-Atta said.
It may be recalled that the government introduced “this to enhance domestic tax mobilization and expand the tax base and provide an opportunity for everyone to contribute towards national development”. However, according to government the estimated money to be accrued as far as the levy is concerned, has not been reached.
John Kumah Speaks
Speaking on Joy Newsfile programme, Saturday, John Kumah who doubles as the Member of Parliament for Ejisu constituency claims: “we still have challenges because not all operators channel their system through the common platform that has been created. So a lot of compliance issues…but having reduced the rate to 1% means that we are a listening government.”
According to him, “per the data I have seen, there is some 60% growth in terms of the usage of MoMo and its impacts on the revenue we are generating under e-levy”.