Parliament Passes E-Levy

Parliament is now counting on President Akufo-Addo to assent to the electronic transfer Levy (E-Levy) bill.  The Majority in Parliament permitted the E-Levy after the Minority walked out pronouncing the tax as a tool to worsen the unfortunate economic situation of the regular Ghanaians.

The decision was rmade after the Consideration Stage was passed under a certificate of urgency.

The bill turned into adopted at a discounted rate of 1.5% from the preliminary 1.75%.

The tax, which has emerge as a subject of dialogue among Ghanaians, is expected to generate ¢6 billion in tax proceeds for the country.

The Ghana Revenue Authority (GRA) has already hinted that its systems have been reviewed and equipped to ensure mobilization of the earnings.

As Parliament awaits the President’s consent to move on with the rules, here is a list of transactions to be affected and exempted whilst the implementation kicks in.

Transactions E-Levy will cover

• Mobile money transfers between accounts on the same electronic money issuer (EMI)
• Mobile money transfers from an account on one EMI to a receiver on another EMI
• Transfers from financial institution accounts to mobile money accounts
• Transfer from mobile money accounts to financial institution accounts
• Financial institution transfers on a digital platform or application which originate from a bank account belonging to an individual to another individual

Exempted Transactions on E-Levy