Since government disclosed its intention of going to IMF, mixed reactions emerged where most, if not all, Ghanaians feel e-levy should be scrapped. Government has however asserted that it will continue collecting 1.5 % tax on the electronic transfers (e-levy) despite IMF bailout.
The Finance Ministry responded to the question of whether the government will scrap e-levy. Sharing his response;
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 operationalisation 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-GDP 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.
Government noted that all the proceeds from e-levy will be used to salvage the struggling economy.
