E-Levy: Government misses 2023 first half target; rakes only 46% of projected GH¢982 million

The 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 during the presentation of 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.

However, data in the mid-year budget review reveals the government raised only some GH¢455,579,224 out of the projected GH¢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 GH¢2.2 billion to GH¢1.1 billion.