2023 Budget: Govt announces reduction in e-levy rate

The government has announced plans to reduce the rate of the controversial electronic transfer levy (E-Levy) from 1.5% to 1%.

Finance Minister, Ken Ofori-Atta, announced this while presenting the 2023 budget statement in Parliament on Thursday.

Mr Ofori-Atta explained the reduction forms part of a seven-point agenda aimed at restoring macro-economic stability and accelerating economic transformation.

He added the review is to “aggressively mobilise domestic revenue.”

The E-Levy covers electronic transactions, including mobile money payments, bank transfers, merchant payments and inward remittances.

But the policy has been widely criticised amid claims that the government is insensitive to the plight of Ghanaians.