E-levy starts today

The implementation of the Electronic Transfer Levy (E-Levy) begins today, Sunday, 1 May 2022.

The 1.5percent levy will apply to electronic transactions.

The 5 transactions affected by the E-levy include:  Momo transfers between users on same network, Momo transfers between users on different networks, Transfers from bank accounts to Momo accounts, Transfers from Momo accounts to bank accounts and Inter-bank transfers using digital platforms including mobile applications.

The Ghana Revenue Authority (GRA), had said earlier that it was ready for the implementation of the E-Levy.

A statement issued by the GRA to announce the take off of the levy said: “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 aim of ensuring that the charging entities are in a position to implement the Levy by the due date.”

The GRA also assured the general public that “adequate measures have been put in place to ensure the smooth implementation of the Levy,” it said in a statement.

Also telcos across the country indicated their readiness for the implementation of 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 transfer above GHS100 daily and will be in addition to the application charges,” MTN also stated in a message to its customers.

Source: classfmonline.com