Ghanaians to continue to pay E-levy despite IMF bailout – Government of Ghana

Ghanaians to continue to pay E-levy despite IMF bailout – Government of Ghana. Despite its intention to approach the International Monetary Fund (IMF) for financial support, the government has revealed that it would still collect the 1.5 percent tax on electronic transactions (E-levy).

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The Ministry said “NO. ” when asked if the fee will be eliminated. IMF financing will be used to help Ghana’s balance of payments (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%”.

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“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 the government’s efforts to rebuild the economy.

The Finance Ministry also stated that more tax measures may be considered in the medium future.

According to Asaase Radio, the IMF team, led by Carlo Sdralevich, arrived in Ghana today in advance of the meetings with the GoG.

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