0.5% E-Levy Would Have Raked In GH¢2.64bn – Report | Economy

It also indicated that many people were avoiding the payment of E-Levy.

It cited an example that in many commercial transactions, the parties involved negotiated based on a “gentleman's agreement” where the sender deposited cash into the wallet of the receiver through a “Mobile Money” merchant account to avoid the payment of its corresponding E-Levy charge.

It said the E-Levy was a good tax handle that must be maintained considering the dire fiscal stance of the country.

It, however, added that the initial revenue estimate of GH¢4.5 billion at 1.5 per cent was overambitious and had the potential of negatively affecting Ghana's Cash-Lite Agenda.

Again, it said the strategy of using the E-Levy as a conduit to get the informal sector to contribute to national revenue had failed, as the informal sector was the most active group exploiting the current E-Levy loopholes.

Similarly, it said the growth in the number of active mobile money agents had been on a decline.

However, the growth rate for the active agents has been higher compared to the active mobile money customers.