ATM Withdrawals Not Included In E-Levy – Finance Ministry

By | April 1, 2022
Minister Of Finance: Ken Ofori-Atta Biography And Net Worth 2021

E-Levy revised to 1.5%. No threshold for E-Levy payments. Transfers on will not attract E-levy.

In today’s latest news sighted by Latest Ghana, GhanaWeb confirms that the E-levy will not affect ATM Withdrawals according to the Finance Ministry.

The Finance Ministry has stated that ATM withdrawals will not attract the 1.5% charge on electronic transfers.

Also, same person transactions will not attract the E-Levy.

The E-Levy is a tax imposed on electronic transfers charged at the time of transfer. The levy shall be administered by the GRA and collected through licensed Banks, Specialised Deposit-Taking Institutions, Payment Service Providers(PSPs), and Electronic Money Issuers (EMIs).

According to the Finance Ministry, this is to help widen the tax net and also afford Ghanaians the opportunity to contribute to nation-building.

In a document, explaining which transactions or otherwise the E-Levy will affect, the Finance Ministry noted Loan repayments will not attract the Levy if the recipient is registered with the GRA for Income Tax or VAT. “Otherwise, the sender will pay the E-Levy.”

It also stated that salary payments from corporate bank accounts which are registered with the GRA for income tax or VAT, will be exempted from E-Levy.

You can check our complete guide on the Frequently Asked Questions on E-Levy in Ghana.

Thank You for reading this post from Latest Ghana as online entertainment and news portal from Ghana. Don’t forget to recommend our site, Latest Ghana to your friends and family who might also profit from the information on our website and check out our other articles because we have more information to bring to you via your devices.

RELATED:  PDO Foundation Offers Free Food To Destitute During Easter

I believe you have any comments or suggestions to drop about this article, kindly make use of the comment box below and reach us for more discussion.

Latest Ghana is on the mission to promote anything latest from Ghana; Latest Entertainment News, General News, Sports, Insurance, Banks, Mortgage, Farming, Scholarship, Education and Schools Admission, Product pricing, Food, Fashion, Health, Business and more.

Category: General News Tags:

About Latest Ghana

Welcome to Latest Ghana website serving as an entertainment and news portal in the nation Ghana. At here, we try to discover anything entirely Ghana and give you all the guides and steps. We are hoping to become a bigger news provide online in Ghana. We serve you in some field such as business, gossip, insurance, banks, Telecoms, Opinions, Fashion, Farming, Mobile Money services, beauty, Loans, education, scholarship, hospitality, career guide, jobs and much more. We seek to become a trusted online brand in Ghana for anything you may need to know about Ghana entirely. Latest Ghana is an online magazine portal in Ghana you can check out for your everyday entertainment news.

Leave a Reply