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The incumbent administration has stated that it will continue to levy the 1.5 percent tax on electronic transactions despite requesting the International Monetary Fund (IMF) for financial assistance.
When asked if there will be a fee reduction, the Ministry of Finance according to Ghbase.com responded “NO. ”
IMF funding will be utilized to improve Ghana’s payment balance (i.e. to shore up the international reserves).
According to the Ministry, the money raised from the electronic transfer levy will help the government’s initiatives to revive the economy.
The Finance Ministry added that other tax measures could be taken in the medium term.
Asaase Radio reports that the IMF delegation, under the leadership of Carlo Sdralevich, landed in Ghana today in preparation for the discussions with the GoG.
“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-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.
Source:NKONKONSA.com
