Ghana’s Electronic Levy (E-Levy) will bring in a total revenue of GHC 1.2 billion by the end of 2023.
This was announced by the Commissioner General of the Ghana Revenue Authority (GRA), Reverend Dr Ammishaddai Owusu-Amoah.
Background
The E-Levy places a 1% levy (revised from 1.5% when implemented) on mobile money transactions in 2022. The controversial tax was implemented to help enhance domestic tax mobilisation and expand the tax base.
What They’re Saying
“We have so far collected GHS 1.1bn in revenue and are hoping that by the end of 2023, we will be able to collect GHS 1.2bn to GHS 1.3bn in total tax revenue from the E-Levy,” Reverend Dr Ammishaddai Owusu-Amoah stated.
Between The Lines
Ghana’s Ministry of Finance revised its total target for the year from GHC 2.2 billion to GHC 1.1 billion in 2023.
By The Numbers
Here’s how Ghana’s E-Levy is performing so far after being implemented in May 2022:
- E-levy revenue target in 2022 was GHC 6.9 billion but was revised to GHC 800 million after a delay in implementation.
- E-Levy Revenue in 2022 was GHC 613.9 million, falling short of its target
- E-Levy revenue target in 2023 was set at GHC 2.24 billion after the rate was revised to 1% from 1.5%.
- The E-Levy revenue for Q1 2023 was GHC 246.9 million.
Source: Norvan Reports
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