E-Levy: 1% charge comes into effect today

A 1% fee will be applied to all electronic transactions from today, January 11, 2023, according to the Ghana Chamber of Telecommunications.

This is consistent with the declaration that the Electronic Transfers Levy rate will be reduced from 1.5% to 1% made by Minister of Finance Ken Ofori-Atta at the presentation of the 2023 budget statement in parliament.

The increased E-Levy rate was then discussed and approved by Parliament prior to the house’s December 2022 break.

“As captured in the Electronic Transfer Levy (Amendment) Act, 2022, Act 1089 which has been passed by parliament and assented to by the President, the levy on electronic transfers has been reduced from 1.5% to 1%, while the GHS100 threshold remains unchanged,” Prior to implementation, the Chamber of Telecommunications released a statement.

To ensure a seamless implementation of the new rate, the Chamber has promised to cooperate with the Ghana Revenue Authority and other significant institutions in the interim.

As part of the law’s amendment, the government wanted to remove the GHC100 barrier that was a component of the original E-Levy law’s exemptions.

That, however, was unsuccessful since a minority of parliamentarians rejected the plan and it was defeated in a vote.

Read the full statement below:

 

Source: Ghanatodayonline.com