• About
  • Advertise
  • Privacy Policy
  • Contact
Monday, October 13, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Modified Version Of E-Levy May Generate More Revenues Than Expected – Economist

Stephen M.Cby Stephen M.C
April 1, 2022
Reading Time: 4 mins read
Stephen M.Cby Stephen M.C
in Economy, One Top Story
0
Modified Version Of E-Levy May Generate More Revenues Than Expected – Economist

Image Credit: EverydayNewsGH

A Research Fellow at the Centre for Social Policy Studies (CSPS) at the University of Ghana has expressed optimism that the modified version of the E-levy bill passed by Parliament and assented by the President may generate more revenues than the original version proposed in the 2022 Budget Statement in November last year.

Dr. Kwadwo Opoku said the initial version of the electronic transactions tax (E-Levy) looked more like a tax on mobile money transactions which may not have generated enough revenues for the government as projected in the budget.  He said the new bill assented by the President has been broadened to include other electronic transactions such as internet banking, that were previously not covered.

“Initially, when it came out, it’s almost like a MoMo tax, but maybe given our write up or probably they considered a lot of things, now, if you look at the bill and what they’re saying in the media, it has been broadened.  So, my expectation is that, provided people do not reduce the use of the electronic medium, they will generate more than even what is targeted in the budget, they will generate far more than that. And that will be able to cater for a lot of the difference between expenditure and revenue”.

Dr. Kwadwo Opoku

E-Levy to boost revenues

Dr. Opoku told the Vaultz news that even though government has announced a reduction in its expenditures, it will be difficult to achieve much in terms of reducing the country’s deficits unless more efforts are made to increase revenues. He said cutting expenditure in Ghana may only mean reducing capital expenditure which will have dire consequences on long-term growth.

RelatedPosts

Ghana Climbs Credit Ladder as Moody’s Issues Major Upgrade, Signals Strong Economic Comeback Under IMF Reforms

Ghana’s Debt Relief Gains Momentum As IMF Hails Major Breakthrough with Five Nations Deal

Ghana Secures IMF’s 5th Review Approval — $385 Million Boost to Strengthen Economic Recovery

Dr. Opoku 1
Dr. Kwadwo Opoku

“I’ve always maintained that if you critically look at our budget, almost everything is rigid. So, when they say they are reducing it, the only thing that they can reduce is more often capital expenditure, and that is what if you want economic growth, you don’t want to reduce. So the issue is more about revenue.

“Once it is passed, though it has a lot of inefficiencies, it should be the last tax to be employed, but they will want to rely on this since the medium to collect it is readily available. So, if they’re able to do that, and people do not stop using it or it doesn’t reduce dramatically, they’ll generate a lot and that will make a lot of big difference. I mean, if they are able to make GH¢50 billion or something, that will be a lot to decrease the fiscal deficit”.

Dr. Kwadwo Opoku

Dr. Opoku however, warned that “I can foresee, especially looking at the economic disincentives to use the electronic platforms and also political disincentives”, some difficulties in revenue generation from this tax in the short-term. He said “in this short period, it may not be able to change a lot of variables that will improve generally, tax and also tax administration and other things”.

Possible challenges that E-levy may face  

Dr. Opoku indicated that “we contributed to this debate, because we thought that it will generate a conversation where people will argue” about this levy, its effects and design in a way that will make it “more efficient, but that was not”.

“If you listen to it, it’s more political argument. You could see that people don’t want the state to generate more revenue for political purpose. And so if people have that mentality and looking at the political divide, people may be ready to forsake the use of MoMo and other electronic transactions, just to make sure that government would not get resources to do what it wants to do. If this kind of thing that people are predicting actually happens, then, it will be a different thing altogether”.

Dr. Kwadwo Opoku

Nevertheless, Dr. Opoku said under normal circumstances, given the levy’s broad nature, it is expected to generate more revenues if it does not lead to behavioral changes that may affect the usage of electronic platforms as a result of the introduction of the tax.
 

ADVERTISEMENT

READ ALSO: SEC, BoG Must Regulate Crypto Currency and Up Efforts in Dealing With Money Doublers- Expert
 

Tags: COVID-19CSPSe-levyExpendituresGhana NewsMoMorevenues
Please login to join discussion
Previous Post

E-Levy Will be the Demise of Digitization – Joselyn Dumas

Next Post

I Am Not Surprised- Ras Mubarak on President Assenting E-levy

Subscription Form

Related Posts

Ghana Climbs Credit Ladder as Moody’s Issues Major Upgrade, Signals Strong Economic Comeback Under IMF Reforms
Economy

Ghana Climbs Credit Ladder as Moody’s Issues Major Upgrade, Signals Strong Economic Comeback Under IMF Reforms

October 11, 2025
Ghana’s Debt Relief Gains Momentum As IMF Hails Major Breakthrough with Five Nations Deal
Economy

Ghana’s Debt Relief Gains Momentum As IMF Hails Major Breakthrough with Five Nations Deal

October 10, 2025
Ghana Secures IMF’s 5th Review Approval — $385 Million Boost to Strengthen Economic Recovery
Economy

Ghana Secures IMF’s 5th Review Approval — $385 Million Boost to Strengthen Economic Recovery

October 10, 2025
Ghana Cedi Crowned Africa’s Best-Performing Currency in 2025 — World Bank Applauds Strong Policy Discipline
Economy

Ghana Cedi Crowned Africa’s Best-Performing Currency in 2025 — World Bank Applauds Strong Policy Discipline

October 10, 2025
Economist Sounds Alarm: Ghana’s Overdependence on Imports Threatens Economic Future
Economy

Economist Sounds Alarm: Ghana’s Overdependence on Imports Threatens Economic Future

October 9, 2025
BoG Gold Reserves Soar to 37.06 Tonnes — Record 21.3% Surge Boosts Cedi Stability
Economy

BoG Gold Reserves Soar to 37.06 Tonnes — Record 21.3% Surge Boosts Cedi Stability

October 9, 2025
Mr. Benjamin Nsiah, the Executive Director of the Centre for Environmental Management and Sustainable Energy
Extractives/Energy

Government Urged to Restore PIAC’s Full Budgetary Allocation 

by Prince AgyapongOctober 13, 2025
Lawyers Declare Odo Broni as Recognized Wife of Daddy Lumba
Entertainment

Lawyers Declare Odo Broni as Recognized Wife of Daddy Lumba

by Esther Korantemaa OffeiOctober 12, 2025
Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah
General News

Mahama’s Galamsey Fight Non-Negotiable – Lands Minister Declares

by Evans Junior OwuOctober 12, 2025
Mining consultant Ing. Wisdom Edem Gomashie
Extractives/Energy

Mining Consultant Challenges GoldBod CEO’s Claims on Gold Purchases 

by Prince AgyapongOctober 12, 2025
Ecobank Ghana Empowers the Next Generation Through Digital Inclusion
Banking

Ecobank Ghana Empowers the Next Generation Through Digital Inclusion

by Stephen M.COctober 12, 2025
GES Urges Parents to Accept Placements and Prepare Wards
General News

GES Urges Parents to Accept Placements and Prepare Wards

by Silas Kafui AssemOctober 12, 2025
Mr. Benjamin Nsiah, the Executive Director of the Centre for Environmental Management and Sustainable Energy
Lawyers Declare Odo Broni as Recognized Wife of Daddy Lumba
Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah
Mining consultant Ing. Wisdom Edem Gomashie
Ecobank Ghana Empowers the Next Generation Through Digital Inclusion
GES Urges Parents to Accept Placements and Prepare Wards

Recent News

Mr. Benjamin Nsiah, the Executive Director of the Centre for Environmental Management and Sustainable Energy

Government Urged to Restore PIAC’s Full Budgetary Allocation 

October 13, 2025
Lawyers Declare Odo Broni as Recognized Wife of Daddy Lumba

Lawyers Declare Odo Broni as Recognized Wife of Daddy Lumba

October 12, 2025
Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah

Mahama’s Galamsey Fight Non-Negotiable – Lands Minister Declares

October 12, 2025
Mining consultant Ing. Wisdom Edem Gomashie

Mining Consultant Challenges GoldBod CEO’s Claims on Gold Purchases 

October 12, 2025
Ecobank Ghana Empowers the Next Generation Through Digital Inclusion

Ecobank Ghana Empowers the Next Generation Through Digital Inclusion

October 12, 2025
GES Urges Parents to Accept Placements and Prepare Wards

GES Urges Parents to Accept Placements and Prepare Wards

October 12, 2025
Subscription Form
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.