Ghana Revenue Authority (GRA) is serving notice that the implementation of the Electronic Transfer Levy also called ‘E-Levy’ will commence on May 1, 2022.
According to the GRA, the decision was influenced by Parliament passing the E-Levy Bill.
The E-Levy applies to all electronic transfers.
Below is a list of transactions that are covered and not covered by the controversial E-levy.
Transactions to be affected by E-levy
Mobile money transfers between accounts on the same electronic money issuer (EMI),
Mobile money transfers from an account on one EMI to a recipient on another EMI,
Transfers from bank accounts to mobile money accounts,
Transfer from mobile money accounts to bank accounts, and
Bank transfers on a digital platform or application which originate from a bank account belonging to an individual to another individual.
Transactions exempted from E-levy
Cumulative transfers of GHC100 per day made by the same person,
Transfers between accounts owned by the same person,
Transfers for the payment of taxes, fees and charges on the Ghana.gov platform,
Electronic clearing of cheques,
Specified merchant payments (that is, payments to commercial establishments registered with the GRA for income tax and VAT purposes), and
Transfers between principal, master agent and agent’s accounts.
By Vincent Kubi