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HomeBusinessE-levy implementation challenges under control; ignore doomsayers – Ken Ofori-Atta

E-levy implementation challenges under control; ignore doomsayers – Ken Ofori-Atta

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Finance Minister, Ken Ofori-Atta, has said that government has been able to resolve the initial challenges that characterised the implementation of the Electronic Transfer Levy (E-Levy).

He explained that the anomalies were promptly identified and mechanisms have already been instituted to enhance the collection process.

“I don’t know of any programme which has technology involved, that would not have teething problems; but certainly, the cataclysmic pronouncements by people on the other side, is not happening.

“I think we pretty much have it under control as much as we can. We started on May 1; we were blessed with that being a period of holidays for three-four days so we saw the issues and began to tackle them,” he said.

Speaking during a press briefing on Thursday, Mr Ofori-Atta assured that any further issues that would arise from the implementation will be adequately taken care of.

He added that concerns raised about regressive taxes have also been taken into due consideration, a reason transactions below GH¢100 are not being charged the Levy.

“We are a country moving really forward…we know our salaries are not that high so truly, most of those that people advocate as regressive taxes are not affected at all; and if you have a GH¢200, I am sure you can do it in two days and therefore there will be a zero impact.

“We are truly excited about this new tax handle to look at issues of curing auction failures, increasing our revenue mobilisation, getting technology and gradually moving into an economy in which, really, people just don’t use cash because it’s much easier to continue with technology,” he added.

The E-Levy was implemented on May 1. Electronic transactions above GH¢100 are now being taxed at a rate of 1.5%.

However, some transactions below the threshold were taxed.

Some of the charging entities later refunded the amounts that were illegitimately charged to affected customers.

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