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E Levy Ghana Charges

Here are the E Levy Ghana Charges as well as E Levy Charges On Mobile Money transactions in Ghana

 

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About E Levy Ghana Charges

  • The Electronic Levy also known as the E-levy was passed by Ghana’s Parliament on Tuesday, March 29th, 2022.
  • E Levy Charges requires a 1.5% tax deductions from electronic 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
  • The E-Levy applies to five main transactions stated below while six other transactions  are exempted as explained below

 

What Is E Levy

Meaning Of E Levy

  • E Levy means Electronic Levy. E Levy is an Electronic Transaction Levy
  • E Levy is a tax applied on transactions made on electronic and digital platforms in Ghana
  • The E  Levy was introduced by the Government of Ghana to tax all electronic transactions in the informal sector to broaden the tax net
  • The E levy will affect five principal 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 deducted from Mobile money transactions between Mobile money accounts exceeding GH¢100
  • What this means it that an amount of 1.5% will be deducted from all mobile money transfers above GH¢100 however withdrawal of money from mobile money accounts will not be taxed
  • The E Levy Charges will not affect mobile money transfers of GH¢100 or less made by one person in a day
  • However all person-to-person mobile transactions such as sending of money to another account, payment for goods and services, payment of utilities among other electronic transactions will be affected
  • In addition all Merchant payments and payments made with point of sale (POS) devices will equally be affected

 

E Levy Ghana Charges

  1. 1.5% tax will be deducted from Mobile money transfers between accounts on the same electronic money issuer (EMI)
  2. 1.5% tax will be deducted from Mobile money transfers from an account on one account to a recipient on another account
  3. 1.5% tax will be deducted from Money Transfers from bank accounts to mobile money accounts
  4. 1.5% tax will be deducted from Money Transfers from mobile money accounts to bank accounts
  5. 1.5% tax will be deducted 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

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

 

How To Avoid Paying E Levy

  1. Send just 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 Transaction
  3. Make Payments With Bank Cheques

 

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6 Comments

  1. Are children below the age of 18years going suppose to pay tax?…. If yes please explain, if no please explain. Thank you!

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