In May 2022, the Government of Ghana implemented an Electronic Levy (E-Levy) where a 1.5% tax was placed on the electronic transfer of money in the country. This E-Levy mostly affected mobile money transfers of 100 GHC or more.
The controversial E-Levy was implemented to help enhance domestic tax mobilisation and expand the tax base.
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.
What Happens Next
With its revenue target seemingly off course, Ghana's Ministry of Finance revised its total target for the year from GHC 2.2 billion to GHC 1.1 billion.
Catch up on news and other tidbits on our WhatsApp Community Page, Twitter/X, and subscribe to our weekly newsletter to ensure you don’t miss out on any news.
