The Electronic Levy (E-levy), according to data from the Ghana Revenue Authority (GRA), generated GH¢246.9 million in revenue at the quarter-point of the year, or 11% of the anticipated GH¢2.24 billion.
By March 2023, the E-levy had brought in GH¢861.47 million in income since it was put into place 11 months earlier, in May 2022.
The E-levy, set at a rate of 1.5 per cent, contributed GH¢614.57 million in its first seven months, exceeding the continuously updated target of GH¢611 million. Since the E-levy was implemented, its revenue has steadily, if slightly, increased, according to the GRA.
The levy brought GH¢53.58 million in May 2022, and GH¢59.23 million in June 2022. GH¢65.07 million was reached in July 2022, GH¢71.29 million in August 2022, GH¢78.95 million in September 2022, GH¢85.73 million in October 2022, and GH¢93.3 million in November 2022.
E-levy revenue surpassed the landmark of GH¢100 million in December 2022, hitting GH¢106.79 million. But at the start of 2023, the revenue line experienced a fall as its rate dropped from 1.5 per cent to 1 per cent.
The E-levy brought in GH¢246.9 million in the first quarter of 2023. The returns were GH¢ 85.93 million in January 2023, but fell to GH¢73.99 million in February 2023, a fall of around 13.9 percent.
However, March 2023 saw a comeback as it brought in GH86.98 million, bringing the first-quarter total to GH¢246.9 million.
