2023 budget: E-levy rate to be reduced from 1.5% to 1%

The government is set to reduce the rate of the controversial electronic transfer levy to 1 percent from 1.5 percent.

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

The review of the act is to “aggressively mobilise domestic revenue.”

As part of the review of the e-levy act, the minister also said the daily threshold would be reviewed.