News The African Way

Ghana: Full List Of Transactions To Be Affected By The E-Levy Law

By Sunday Elijah

On Tuesday, Ghanaian Parliament passed a controversial Electronic Transfer Levy (E-Levy) Bill, when Minority Members staged a walked-out on the basis that the tax is a tool to exacerbate the plight of the ordinary Ghanaian.

The newly introduced tax, which has remain a topic of discussion among Ghanaians, is expected to generate about ¢6 billion in tax revenue for the country.

Initially, 1.75% was proposed but eventually 1.5% was adopted.

The Ghana Revenue Authority (GRA) has already hinted that its structures have been revised and ready to ensure mobilization of the income.

President Nana Akufo-Addo has already signed it into law and below is a list of transactions to be affected and those exempted as the law comes into effect, as provided for by the Finance Ministry.

Transactions E-Levy will cover

  • 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 E-Levy will NOT cover

  • 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 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

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