How To Calculate E levy Charge: Calculate E levy Using the E levy Calculator

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How To Calculate E levy Charge: Calculate E levy Using the E levy Calculator

E LEVY CHARGES ON MOBILE MONEY IN GHANA 2022

E Levy Charges On mobile money in ghana has become the topic of discussion for some time now. Parliament Approves the E-Levy bill. here is the entire listing of Transactions the E-Levy will cover. The electronic transfer Levy (E-Levy) bill is now awaiting President Akufo-Addo’s Signature to be implemented.

As parliament Approves the E-Levy bill, right here is the full list of Transactions the E-Levy Will cover and those which it’ll not cover on the charge of 1.5%.

About E-Levy Charges 2022/2023

The electronic Levy also referred to as the E-levy become passed by means of Ghana’s Parliament on Tuesday, March 29th, 2022.

E Levy charges require a 1.5% tax deductions from electronic transactions along with mobile money transfers, bank to bank transfers, bank to mobile money transfers, and online fee transactions with payment platforms which includes Visa Card, Master Card, and PayPal amongst others.

The E-Levy applies to the five foremost transactions stated beneath while six different transactions are exempted as explained underneath.

-What Is 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, and online payment transactions with payment platforms such as Visa Card, Master Card, and PayPal among others.

TRANSACTIONS AFFECTED BY E-LEVY

These are the transactions that are affected by the E-Levy in Ghana

THE 5 TRANSACTIONS AFFECTED BY E-LEVY
TRANSACTIONS AFFECTED BY E-LEVY

E-Levy Charges On Mobile Money 2022-2023

  • A 1.5% tax will be deducted from Mobile money transactions between Mobile money accounts exceeding GH¢100.
  • What this means is 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.

How To Calculate E levy Charge

You can calculate E Levy Charges before starting your transactions by clicking on the link provided below:

CALCULATE E LEVY CHARGED ON TRANSACTIONS HERE

E Levy Ghana 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 the 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 the principal, master agent and agent’s accounts.

How to Avoid E Levy Payment?

  • Send an amount of GHS100 a day to your recipient till you have got exhausted the entire amount you want to send. For instance, if you want to send GHS 500 a month to your mother, starting, just send GHS100 a day, every day till she receives GHS 500, then she can go and cash out.
  • Use cash transactions instead of Mobile Money Transfers
  • Make Payments with Cheque

NOTE:

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