THE IMPLEMENTATION OF THE ELECTRONIC TRANSACTION LEVY (E-LEVY) COMMENCES TODAY, MAY 1, AS ANNOUNCED BY THE GHANA REVENUE AUTHORITY (GRA).
COVERAGE OF E-LEVY
This is a list of transactions that are covered and not covered by the ELECTRONIC 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
- 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)
- Transfers between principal, master agent and agent’s accounts
This means a rate of 1.5% will be imposed on all electronic transactions above GH¢100.00 starting Sunday.
But it appears comments from mobile money users indicates that, the government and the Ghana revenue authority were economic with the entire truth of the system.
Read some comments.
By: Prince Osei-Gyamfi (Cape360.net)
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