Minority suggests 0.5% E-levy rate, GHS 300 threshold

The Minority in Parliament has suggested a 0.5 percent Electronic Transfer Levy and a GHS 300 threshold to cushion poorer Ghanaians.

Speaking at a retreat for MPs, the leader of the caucus, Haruna Iddrisu, said his side was open to collaborating with the government as it works to overcome the economic crisis.

“We will subject it [the new E-levy rate] to further critical and thorough discussions as a caucus in order to assist the government to get out of its eminent economic crisis,” he said.

“But without going into the scenarios, as you look at your scenarios, consider another 0.5 percent at a threshold of GHS 300 as compared to what you have admitted of 1 percent at a threshold of zero,” the Minority leader added.

On the appeal for more consultation, Mr. Iddrissu said, “be assured that we will guide you to resuscitate the economy in a manner that will respect each other’s views.”

The government is set to reduce the rate of the controversial Electronic Transfer Levy to 1 percent from 1.5 percent but is also removing the GHS 100 threshold, making all transactions taxable.

In the 2023 budget statement, the Finance Minister, Ken Ofori-Atta, said this review was part of a seven-point agenda aimed at restoring macroeconomic stability and accelerating our economic transformation.