How E-Levy Charges Are Implemented

How E-Levy Charges Are Implemented

The Parliament of Ghana on April 29, 2022, passed the Electronic Levy commonly known as E-Levy. The electronic Levy was scheduled to take off a tax amounting to 1.5% from some five (5) static transactions. The tax will affect MoMo wallet transfers, bank to bank transfers, bank to MoMo wallet, and Online payment platforms.

Check E-Levy Charges Of Mobile Money Below;

E-Levy Charges On Mobile Money 2022, Check Charges Here

Payment for online transactions through Visa Card, Master Card, and PayPal, including other unlisted online platforms will be affected effective 1st May 2022.

Exemptions of the E-Levy

1. Same person doing multiple transactions of GH¢100.00 in a day will not attract any charge.
2. Transferring money between self-owned accounts (same person having more than one MoMo wallet. You can transfer from your MoMo wallet A to wallet B, wallet A to wallet C will not attract any charge if only all the wallets are registered in your name.)
3. Electronic payment of fees, taxes, and government platforms (ghana.gov) will not be affected by the e-levy.
4. No charge will be attracted on clearing your bank cheques when done electronically.
5. Merchant’s payments to commercial institutions that have registered with Ghana Revenue Authority (GRA) for income tax and VAT reasons are exempted from the e-levy charges.
6. Transfers between Principal, master agents, and agent’s accounts are exempted.

The static transactions are meant to attract e-levy from 1st May 2022.

1. A tax of 1.5% will be taxed on MoMo transfers between accounts on the same EMI /or Electronic Money Issuer.
2. Transfers of money from your account to a recipient on another MoMo wallet will be taxed 1.5.% charge.
3. A charge of 1.5% will be deducted from transfers made from your bank account to your MoMo wallets.
4. Transfers from MoMo wallets to banks will be affected by a 1.5% charge.
5. Online platforms linked to banks will be affected. Transfers from your bank account to a digital/online platform will attract a 1.5% charge.

List of charges affected by E-levy

The lowest amount that will attract e-levy is GH¢100.00 Transfers below the started amount of money are exempted from the electronic levy.

Find below the listed charges in a pictorial format.

Breaking: Mobile Money Agents to Embark On Strike Action Over 1.75% E-Levey