The E-Levy begins on May 1. The rate was reduced from 1.75 percent to 1.5 percent. The minority caucus staged a walkout.
The 1.5 percent Electronic Transfer Levy (E-Levy) takes effect today, Sunday, May 1, 2022.
The levy was approved by Parliament on Tuesday, March 29, 2022, during the Minority walkout from the chamber.
The Ghana Revenue Authority (GRA) has stated that adequate measures have been put in place to ensure that the new tax is implemented smoothly.
According to the GRA, it has broadly consulted all relevant stakeholders to ensure the collection of the E-Levy as announced earlier.
“The Authority assures the general public that adequate measures have been put in place to ensure the smooth implementation of the Levy,” it said in a statement.
“GRA has held several technical sessions and engagements with the various charging entities (Electronic Money Issuers, Banks, Payment Service Providers, and Specialised Deposit-taking Institutions) on the implementation of the E-Levy, with the goal of ensuring that the charging entities are in a position to implement the Levy by the due date,” it added.
“Following the Ghana Revenue Authority’s assessment of the general readiness of some Charging Entities to integrate with the E-levy Management System, the Commissioner-General has decided on a modified phased approach for the implementation of the Levy starting on May 1st, 2022.”
In a message to their customers, banks and telcos expressed their readiness to implement the levy.
“Dear Valued Customer, from the 1st of May 2022, the 1.5% E-Levy will apply to electronic transfers. However, there are no further transfer charges as Vodafone Cash is still free!” Vodafone Ghana said in a message to customers.
“Dear Valued Customer, kindly be informed that the e-levy of 1.5 % on electronic money transfer from 1st May, 2022. The levy will be applied on transfers above GHS100 daily and will be in addition to the application charges,” MTN also stated in a message to its customers.
Meanwhile, some Minority MPs have filed a lawsuit against the levy’s passage in the Supreme Court.
The plaintiffs then petitioned the Supreme Court for an injunction to prevent the implementation from taking place on May 1 pending the outcome of their substantive case.