This Is How Much You Are Paying On Each Transaction If The E-Levy Approved

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In November last year, Ghana’s finance minister Ken Ofori-Atta announced that the government intends to introduce an electronic transaction levy (e-levy) in the 2022 budget. He said this was to “widen the tax net and rope in the informal sector”.

The proposed levy, which will come into effect on 1 February 2022, is a charge of 1.75% of the value of electronic transactions. It covers mobile money payments, bank transfers, merchant payments, and inward remittances. The originator of the transactions will bear the charge except for inward remittances, which will be borne by the recipient. There is an exemption for transactions up to GH¢100 ($16) per day.

Well, it’s still a few days to the due date and the minority in parliament are fighting hard to make sure the E- levy is not passed.

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Meanwhile, should it be implemented, the figures below are what you are to pay on each transaction you make.

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