Government has disclosed that it will continue to collect the 1.5% tax on electronic transfers (E-levy), despite its decision to go to the International Monetary Fund (IMF) for economic assistance.
Addressing the question of whether the levy will be scrapped, the Ministry said, “NO. The IMF lending to Ghana will be for balance of payments support (i.e. to shore up the international reserves).
“Government is committed to ensuring the smooth operationalization of all taxes including the e-levy to ensure that in addition to the IMF’s resources, government can continue to support its developmental goals on its own while ensuring that tax-to-GPD ratio increases to the peer range of 16%-18%”.
“An IMF-supported programme is likely to encourage the government to investigate the factors hindering the success of the e-levy (including by providing technical assistance if needed) and come out with strategies to improve it,” the statement stated.
The Ministry added that the proceeds from the electronic transfer levy will support government to salvage the economy.
The Finance Ministry also noted that additionally, other tax measures could be considered for the medium-term.
Meanwhile, Asaase Radio has reported that the IMF team, led by Carlo Sdralevich has arrived in Ghana today ahead of the discussions with the GoG.