The president of the Republic has on the 31st March 2022, assent the Electronic Transaction Levy Bill into law and waiting for the telecommunications chamber and the Ghana Revenue Authority to announce the day they office will be ready for work to begin in May 2022.
The finance minister Ken Ofori Atta has given a clear information on how the E-levy bill will work.
These are some information you need to know about the bill and transactions that the Levy will cover.
1. Mobile Money Transfers between accounts on the same electronic money issuer (EMI).
2. Mobile Money Transfers from an account on one EMI to a recipient another EMI.
3. Transfers from bank account to mobile money accounts.
4. Transfers from mobile money accounts to bank accounts.
5. Bank Transfers on a digital platform or application originated from a bank account belonging to an individual to another individual.
Transactions That E levy bill will not cover from the ministry of finance include :
1.Cumulative transfers from GH¢100 per day made by the same person will not be charged.
2. Transfers between accounts owned by the same person.
3. Transfers for the payment of taxes, fees charge’s on the Ghana.gov platforms.
4. Electronic clearing of cheques.
5. Specified merchant payment that is payment to commercial establishment registered with GRA for income tax and VAT purposes.
6. Transfers between principal, master agent and agent account.