The following table summarizes the E Levy Charges on Mobile Money for the fiscal year 2022/2023, as well as the E Levy Charges on electronic transactions in Ghana.
Concerning E Levy Fees on Mobile Money
Ghana’s Parliament approved the E-levy, commonly known as the Electronic Levy, on Tuesday, March 29th, 2022.
The E Levy on Mobile Money Transactions imposes a 1.5 percent tax on electronic transactions such as mobile money transfers.
The e-levy is applicable to the following five primary mobile money transactions, while six other transactions are excluded, as indicated below.
What Is An E Levy?
What Does E Levy Mean?
E Levy stands for Electronic Levy, which is a levy on electronic and digital money transfers in Ghana.
Ghana’s government enacted the E Levy to tax all mobile money transactions and to increase the revenue base.
The E tax will be applied to five primary Mobile Money transactions: mobile money transfers, bank-to-bank transfers, bank-to-mobile money transfers, and online payment transactions using payment systems such as Visa Card, Master Card, and PayPal.
Charges For E-Levy On Mobile Money
Transfers between mobile money accounts over GH100 will be subject to a 1.5 percent charge.
This means that 1.5 percent will be deducted from any mobile money transactions over GH100, while withdrawals from mobile money accounts would be tax-free.
The E Levy on Mobile Money will have no effect on mobile money transfers of less than GH100 done by a single individual in a single day.
All mobile transactions between individuals, such as money transfers, payment for products and services, and payment of utilities, would be impacted.
Additionally, all Merchant payments will be impacted equally.
Mobile Money Levy Charges
Mobile money transfers between accounts with the same electronic money issuer will be subject to a 1.5 percent levy.
Tax of 1.5 percent is to be deducted from mobile money transfers from one account to another.
Money Transfers from bank accounts to mobile money accounts will be subject to a 1.5 percent charge.
Tax of 1.5 percent will be deducted on money transfers between mobile money and bank accounts.
1.5 percent tax is to be deducted on bank transfers made using a digital platform or application connected to an individual’s bank account to another individual.
Charges Under the E Levy Are Exempt
Mobile Money transactions free from E Levy charges.
There are no E Levy Charges on consecutive GH100 per day transactions made by the same individual.
Transfers between accounts owned by the same person are not subject to the E Levy.
On the Ghana.gov platform, there are no E Levy Levies on transfers for the payment of taxes, fees, and charges.
There are no E Levy fees associated with the electronic clearing of bank checks.
There are no E Levy Charges on merchant payments to GRA-registered business firms for income tax and VAT purposes.
Transfers between the principal’s, master agent’s, and agent’s accounts are not subject to the E Levy.