Minority proposes 0.5% E-levy rate and GHS 300 threshold

The Minority in Parliament has suggested a 0.5 percent Electronic Transfer Levy and a GHS 300 threshold to cushion poorer Ghanaians.

Speaking at a retreat for MPs, the leader of the caucus, Haruna Iddrisu, said his side was open to collaborating with the government as it works to overcome the economic crisis.

We will subject the new E-levy rate to further critical and thorough discussions as a caucus to assist the government to get out of its eminent economic crisis,” he said.

“But without going into the scenarios, as you look at your scenarios, consider another 0.5 percent at a threshold of GHS 300 as compared to what you have admitted of 1 percent at a threshold of zero,” the Minority leader added.

The Tamale South lawmaker added that his side was yet to decide on the proposed increase of the VAT rate by 2.5 percent.

He however warned it might have terrible consequences for businesses.

In the 2023 budget statement, the Finance Minister, Ken Ofori-Atta, said this review was part of a seven-point agenda aimed at restoring macroeconomic stability and accelerating our economic transformation.

According to him, these revenue measures are crucial to pulling Ghana’s economy from the brink of collapse.

The minister thus rallied MPs to support the measures and pass them on time.

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