Fresh data from the Finance Ministry has shown a significant shortfall in revenue from the controversial electronic transfer levy.
The data released in the last hour shows that the government has raked in less than seven per cent of its e-levy target.
The e-levy was initially expected to rake in ¢6.9 billion by the end of 2022 of which it was revised significantly to ¢4.5 billion.
According to JoyNews’ Data Analyst, Isaac Kofi Agyei, information from the Ministry’s provisional data span in the first and second quarters of 2022 reported that it has collected ¢92.7 million.
Comparing the amount raised (¢93.7 million) to the initial target (6.9 billion) indicate that a percentage of 6.4 per cent has been raked.
However, making a comparison with the revised target (¢4.5 billion) shows that “it is just 6.2 percent of what government says it has collected so far.”
Also, breaking the data down further to a month-on-month basis, the month of May was targeted to rake in an amount of ¢487.4 million.
Information provided shows that “so far, only ¢39.4 million has been collected which is just 8.08 per cent of the targeted amount."
“And for June, ¢417.8 million and so far we have raked in ¢54.3 million and this is just 12.99 per cent.”
Latest Stories
-
CAFCL: Al Ahly set up historic final with ES Tunis
15 mins -
We didn’t sneak out 10 BVDs; they were auctioned as obsolete equipment – EC
4 hours -
King Charles to resume public duties after progress in cancer treatment
5 hours -
Arda Guler scores on first start in La Liga as Madrid beat Real Sociedad
5 hours -
Fatawu Issahaku’s Leicester City secures Premier League promotion after Leeds defeat
5 hours -
Anticipation builds as Junior Speller hosts nationwide auditions
5 hours -
Etse Sikanku: The driver’s mate conundrum
6 hours -
IMF Deputy Chief worried large chunk of Eurobonds is used to service debt
6 hours -
Otumfuo Osei Tutu II celebrates 25 years of peaceful rule on golden stool
6 hours -
We have enough funds to pay accruing benefits; we’ve never missed pension payments since 1991 – SSNIT
7 hours -
Let’s embrace shared vision and propel National Banking College – First Deputy Governor
7 hours -
Liverpool agree compensation deal with Feyenoord for Slot
7 hours -
Ejisu by-election: There’s no evidence of NPP engaging in vote-buying – Ahiagbah
8 hours -
Ejisu by-election: Independent ex-NPP MP’s campaign team warns party against dubious tactics
8 hours -
ZEN Petroleum supports Tse-Addo Future Leaders School
9 hours