2023 Budget: E-levy reduced to 1% out of 1.5%

The government has indicated a further reduction in the headline rate of the controversial Electronic Transfer Levy to one percent from the current 1.5 percent.

The review of the act is to drive aggressive mobilization of domestic revenue.

Finance Minister, Ken Ofori-Atta disclosed while presenting the 2023 budget statement in parliament on Thursday.

The review forms part of a “seven-point agenda aimed at restoring macroeconomic stability and accelerating our economic transformation.”

Meanwhile, the daily threshold would be reviewed as well, the minister stated.

The headline rate of the E-Levy has seen several reviews from the original 1.75 percent rate to the 1.5 percent further reduction amid protests.

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