Lower e-levy and impose a 0.5% fee on cashouts – Telcos Chamber to government

In order to bring the policy into line with Ghana’s digital-first strategy, the Ghana Chamber of Telecommunications (GCT) has called on the government to reduce the Electronic Transfer fee (E-fee) from 1% to 0.5% and apply a 0.5% levy on cash-outs.

Notwithstanding early difficulties, the E-levy has brought in GH¢482.8 million of the GH¢6.9 billion that was intended for the government.

To support digital payments and be in line with the government’s digital transformation objectives, the Chamber feels that more changes are required.

The telecoms contributed over GH¢6 billion in taxes and other payments in 2022, up 50% from GH¢4 billion in 2021, according to the Ghana Chamber of Telecommunications.

“Our recommendation to the Ministry of Finance is to consider reducing the levy on transfer to 0.5% and introduce a 0.5% levy on cash-outs among other proposals,” the Chamber added in a statement.

This emphasizes how much the industry contributes to Ghana’s economy.

Released on November 21, 2023, the GCT’s 2022 Mobile Industry Transparency Initiative report outlines the industry’s contributions to the growth of the nation.

Speaking at the 2022 Mobile Industry Transparency Initiative report launch held on November 21, 2023, in Accra, Ghana, Ing. Dr. Kenneth Ashigbey, the Chief Executive Officer of the Ghana Chamber of Telecommunication (GCT), disclosed that the industry’s GH¢ 6.07 billion contribution accounts for roughly 8.02% of the government’s 2022 tax revenue of ¢75.71 billion, as stated in the Ghana Revenue Authority’s 2022 annual report (GRA).

According to the research, the business generates over 1.2 million employment indirectly and directly employs over 2,600 people. More than 505,000 Mobile Money Agents are currently in use.

Source: Ghanatodayonline.com