Frencheducationgh Blog of Tuesday, 3 May 2022
Source: Michael Djan
The implementation of the Electronic Transaction Levy (E-levy) started on May 1 2022, as announced by the Ghana Revenue Authority (GRA).
This has caused anger in frustration on social media as some complain about being deducted the lowest amount they send and thus, the e-levy applies regardless of the amount you send.
However, in an interview on "Joynews Live Broadcast" yesterday, Eli Hini, who is Head of Mobile Financial Services said that; “deductions made by MTN on transfers below GHS 100 will be refunded. This is great as it shows how competent and not self-centered MTN is. Indeed, MTN is a service provider that can be trusted.”
-What You Need to Know About E-Levy
Electronic transactions that will not come with a 1.5% tax rate:
• A cumulative transfer of ¢100 made by the same person.
• A transfer 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.
Transfers that will be affected include:
• Mobile money transfers done between accounts on the same Electronic Money Issuer.
• Mobile money transfers to a receiver on another Electronic Money Issuer [Interoperability transfer]
• Transfer from a bank account to [another person’s] mobile money account.
• From a mobile money account to [another person’s] bank account.
• Bank transfers on an instant paid digital platform.
By: Michael Djan
French Tutor and Digital Marketing Blogger/Content Writer and GhanaWeb Professional Reporter/ frencheducationgh.com