The following are the E Levy Ghana Charges for the fiscal year 2022/2023, as well as the E Levy Ghana Charges for Mobile Money Transactions in Ghana.
Charges for E Levy Ghana
• Ghana’s Parliament approved the Electronic Levy on Tuesday, March 29th, 2022.
• The E Levy imposes a 1.5 percent tax deduction on electronic transactions such as mobile money transfers, bank to bank transfers, bank to mobile money transfers, and online payment transactions using payment platforms such as Visa Card, Master Card, and PayPal.
• The E-Levy will effect the following five major transactions, while six other transactions will be excluded, as indicated below.
What Exactly Is E Levy?
• E Levy refers to the Electronic Levy, a tax on electronic and digital transactions in Ghana.
• The Government enacted the E Levy to tax all electronic transactions in the informal sector in order to increase the tax base.
• The E levy applies to five primary types of 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
• Mobile money transfers between Mobile money accounts that exceed GH100 are subject to a 1.5 percent tax.
• This implies that 1.5 percent of all mobile money transactions over GH100 would be deducted, while withdrawals from mobile money accounts will be tax-free.
• The E Levy Charges do not apply to mobile money transactions of less than GH100 done by a single individual each day.
• All person-to-person mobile transactions, such as money transfers, payment for products and services, and payment of utilities, are covered.
• All merchant transactions and payments made via point of sale (POS) devices will be impacted identically.
1. Mobile money transfers between accounts with the same electronic money issuer are subject to a 1.5 percent levy (EMI)
2. A 1.5 percent fee is deducted on mobile money transfers from one account to another.
3. Money Transfers from bank accounts to mobile money accounts are taxed at a rate of 1.5 percent.
4. A charge of 1.5 percent is deducted from money transfers between mobile money and bank accounts.
5. A tax of 1.5 percent is deducted on bank transfers made via a digital platform or application linked to an individual’s bank account to another individual.
Transactions Exepmpted from the E Levy
1. There is no E Levy on cumulative transfers of more than GH100 per day done by the same individual.
2. Transfers between accounts owned by the same person are exempt from the E Levy Charge.
3. There is no E Levy Charge on transactions made through the Ghana.gov platform for the payment of taxes, fees, and charges.
4. There is no E Levy on electronic check clearing.
5. There is no E Levy on merchant payments to GRA-registered business firms for income tax and VAT purposes.
6. No E Levy is applied to transfers between the principal, master agent, and agent’s accounts.