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E Levy Charges On Mobile Money 2022/2023

Here are the E Levy Charges On Mobile Money for the 2022/2023 fiscal year as well as E Levy Charges On electronic transactions in Ghana

 

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About E Levy Charges On Mobile Money

  • The E-levy also known as Electronic Levy was passed by Ghana’s Parliament on Tuesday, March 29th, 2022.
  • E Levy Mobile Money Charges requires a 1.5% tax debit from electronic transactions such on mobile money transfers
  • E-Levy is applied to five main mobile money transactions stated below while six other transactions  are exempted as explained below

 

What Is E Levy In Ghana

Meaning Of E Levy In Ghana

  • E Levy means Electronic Levy which is an Electronic Transaction Levy on Mobile Money Transfers made on electronic and digital platforms in Ghana
  • E  Levy was introduced by the Government of Ghana to tax all Mobile Money transactions and to broaden the tax net
  • The E levy will apply to five main Mobile Money transactions such as mobile money transfers, bank to bank transfers, bank to mobile money transfers, online payment transactions with payment platforms such as Visa Card, Master Card, PayPal among others

 

E Levy Charges On Mobile Money

  • A 1.5% tax will be debited from transfers between Mobile money accounts exceeding GH¢100
  • This implies that an amount of 1.5% will be debited from all mobile money transfers above GH¢100 however withdrawal of money from mobile money accounts will not be taxed
  • The E Levy Charges on Mobile Money will not affect mobile money transfers of GH¢100 or less made by one person in a day
  • All person-to-person mobile transactions such as sending of money to another account, payment for goods and services, payment of utilities among other Mobile Money transactions will be affected
  • In addition all Merchant payments will equally be affected

 

E Levy Mobile Money Charges

  1. 1.5% tax is to be debited from Mobile money transfers between accounts on the same electronic money issuer
  2. 1.5% tax is to be debited from Mobile money transfers from one account to a recipient on another account
  3. 1.5% tax is to be debited from Money Transfers from bank accounts to mobile money accounts
  4. 1.5% tax is to be debited from Money Transfers from mobile money accounts to bank accounts
  5. 1.5% tax is to be debited from Bank transfers on a digital platform or application linked to a bank account belonging to an individual to another individual

 

E Levy Charges Exempted

E Levy Charges exempted On Mobile Money transfers

  1. There are no E Levy Charges on successive transfers of GH¢100 per day made by the same person
  2. There are no E Levy Charges on transfers between accounts owned by the one person
  3. There are no E Levy Charges on transfers for the payment of taxes, fees, and charges on the Ghana.gov platform
  4. There are no E Levy Charges on Electronic clearing of bank cheques
  5. There are no E Levy Charges on merchant payments to commercial establishments registered with the GRA for income tax and VAT purposes
  6. There are no E Levy Charges on Transfers between principal, master agent and agent’s accounts

 

How To Avoid Paying E Levy

  1. Send GHS100 a day to your recipient until you have exhausted the total amount you want to send. Example if you want to send GHS 500 a month to your mother, starting, just send GHS100 a day, everyday until she receives GHS 500, then she can go and cash out.
  2. Use cash transactions instead of Mobile Money
  3. Make Payments With Bank Cheques

 

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4 Comments

  1. Gud , we have to help in building our nation. God bless mother GHANA.

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