E-Levy: Only 46% of projected GH¢982m for 1st half of 2023 realized

Government has missed its 1st half target for the infamous electronic transaction levy (e-levy) by some 54% according to data from the 2023 mid-year fiscal policy review.

Finance Minister, Ken Ofori-Atta in November 2022 presenting the 2023 budget statement in parliament as part of a “seven-point agenda aimed at restoring macroeconomic stability and accelerating our economic transformation.”, announced a reduction in the headline rate of the controversial Electronic Transfer Levy to 1 percent from then 1.5 percent and act that was expected to drive aggressive mobilisation of domestic revenue.

But data in the mid-year budget review reveals the government raised only some GHC 455,579,224 out of projected GHC 982,849,212 representing some 46.35%.

The inability to meet the target has also resulted in a revision for the end of the target from GHC 2.2 billion to GHC 1.1 billion.