The E-Levy charts and Charges on Mobile Money in Ghana is what has been causing fear and panic to numerous Ghanaians about how they will be paying for tax via mobile phone.
The Electronic Transfer Levy known as E-Levy is set to be implemented next month 1 May 2022, thus the Ghana Revenue Authority (GRA) has outlined the transactions that will not be affected by the new tax policy.
Today, this article shall cover all the Transfers That Will Not Attract 1.5 E-Levy Charge As E-Levy Takes Off In May In Ghana for 2022.
According to the Authority, although the tax policy is to broaden the tax net, not all electronic transactions will come with a 1.5% tax rate.
Speaking on JoyNews’ Current Affairs show dubbed ‘The Probe’. Head of Compliance, Domestic Tax Revenue Unit at GRA, Mr. Victor Yao Akogo listed transfers that will not be taxed as follows;
- A cumulative transfer of ¢100 is made by the same person.
- A transfer between accounts owned by the same person.
- Transfers for the payment of taxes, fees, and charges on the Ghana.gov platform
- Electronic clearing of cheques
- Specified merchant payments (that is, payments to commercial establishments registered with the GRA for income tax and VAT purposes)
- Transfers between the principal, master agent, and agent’s accounts.
For the transfers that will be affected; a Principal Revenue Officer and Head of the Project Management Unit, Mr. Isaac Kobina Amoako listed them as follows:
- Mobile money transfers are done between accounts on the same Electronic Money Issuer.
- Mobile money transfer to a receiver on another Electronic Money Issuer (interoperability transfer)
- Transfer from a bank account to [another person’s] mobile money account.
- From a mobile money account to [another person’s] bank account.
- Bank transfers on an instant paid digital platform.
The GRA has, however, urged all and sundry to contribute to see this tax policy a success.
According to Mr. Akogo, the revenue generated from this tax policy will help with the developmental agenda of the government.
For now, the GRA has indicated its readiness to implement collection of the E-Levy as of May 1.
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.
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.