This page discusses When Will E Levy Begin in Ghana in the fiscal year 2022/2023, as well as the New Mobile Money Charges in Ghana and the associated E Levy Chart for Mobile Money transactions.
When Will Ghana’s E Levy Begin?
• The E levy, which was approved by Ghana’s Parliament on Tuesday, March 29th, 2022, will begin in May 2022 and last through the fiscal year 2022/2023.
• The E Levy, as depicted in the E Levy Chart below, represents the E Levy-related expenses associated with each Mobile Money transfer you make in the fiscal year 2022/2023.
• The E Levy on Momo transactions, as depicted in the E Levy Chart below, includes a 0.75 percent charge from the telecommunications networks, namely MTN Momo, Vodaphone Cash, and Airtel Tigo Money, in addition to the 1.5 percent E-levy and its corresponding total charge for each transfer made on your mobile money wallet in the fiscal year 2022/2023.
When Does Ghana’s E Levy Commence?
• The E Levy begins on May 1, 2022 according to the minister of Finance
• This implies that beginning in May 2022, all Mobile Money transactions would be subject to a 1.5 percent tax on the entire amount transmitted in addition to a 0.75 percent service fee by the telecom mobile money service providers, notably MTN Momo, Vodaphone Cash, and Airtel Tigo Money.
When Will Ghana’s E-Levy Be Implemented?
• The E Levy will begin in Ghana in May 2022.
• In the fiscal year 2022/2023, the Ghana Revenue Authority (GRA) will be responsible for collecting the E levy on behalf of the Government of Ghana in partnership with telecommunications networks such as MTN, Vodaphone, and Airtel Tigo.
|MoMo Value||Telco Charges (0.75%)||E-Levy Charges (1.5 %)||Total Charges|
|GHȻ 100||GH 0.75p||GHȻ 0.00||GH 0.75p|
|GHȻ 150||GHȻ 1.125||GHȻ 2.25||GHȻ 3.38|
|GHȻ 200||GHȻ 1.50||GHȻ 3.00||GHȻ 4.50|
|GHȻ 300||GHȻ 2.25||GHȻ 4.50||GHȻ 6.75|
|GHȻ 400||GHȻ 3.00||GHȻ 6.00||GHȻ 9.00|
|GHȻ 500||GHȻ 3.75||GHȻ 7.50||GHȻ 11.25|
|GHȻ 600||GHȻ 4.50||GHȻ 9.00||GHȻ 13.50|
|GHȻ 700||GHȻ 5.25||GHȻ 10.50||GHȻ 15.75|
|GHȻ 800||GHȻ 6.00||GHȻ 12.00||GHȻ 18.00|
|GHȻ 900||GHȻ 6.75||GHȻ 13.50||GHȻ 20.25|
|GHȻ 1000||GHȻ 7.50||GHȻ 15.00||GHȻ 22.75|
|GHȻ 2000||GHȻ 7.50||GHȻ 30.00||GHȻ 37.50|
|GHȻ 5000||GHȻ 7.50||GHȻ 75.00||GHȻ 82.50|
E-Levy Charges On Mobile Money
1. A 1.5 percent tax will be charged on transfers between Mobile Money accounts.
2. A 1.5 percent tax will be collected from your money transfers from one mobile money account to another.
3. A 1.5 percent tax will be charged on money transfers between mobile money accounts and bank accounts.
Chart Of E Levy For Mobile Money
• A 1.5 percent tax is charged from the sender Momo account when the amount transferred exceeds GH100, as indicated in the e levy table above.
• The E Levy Charges shown in the Chart do not apply to Momo transactions of less than GH100 made by a single individual in a single day.
How To Avoid Having To Pay The E Levy
1. Simply send GHS100 daily to your recipient’s Mobile Money account until the entire amount is sent.
2. You can send a sum of GHS 3,000 every month to someone; for example, if you want to pay someone GHS 3000 per month, simply transfer GHS 100 each day, every day, until the person receives GHS 3000, at which point the person can cash out.
3. Ensure that you make large payments in cash rather than via mobile money transfers.
4. Ensure that you Make Payments With Cheques rather than Mobile Money Transfers for large payments.