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The Electronic Transfer Levy Act, 2022 (Act 1075) and its Amendment Act, 2022 (Act 1089) were approved by the President John Dramani Mahama, and the Ghana Revenue Authority (GRA) formally announced the removal of the 1% Electronic Transfer Levy (E-Levy).
The GRA announced that the charge has been discontinued with effect from April 2, 2025, in a formal notice sent to all charging organizations today. With the removal of the fee that has been imposed on electronic transactions since their inception, this measure represents a dramatic change in Ghana’s digital financial environment.
For financial institutions and mobile money carriers, the GRA has provided important implementation instructions, such as:
- No More Charges: The Electronic Transfer Levy Management and Assurance System (ELMAS) will automatically ensure that no charges are applied to electronic transactions from midnight.
- Cessation of E-Levy Charges: Charging entities must immediately stop applying the 1% E-Levy across all platforms.
- Refunds to Customers: Any deductions made on April 2, 2025, must be refunded to customers without delay, with institutions required to maintain proper records of all processed refunds and report them to the GRA.
- Final Settlement of Outstanding Levies: Entities must ensure all previously collected levies before April 2 are properly accounted for and paid to the GRA.
The E-Levy was repealed following years of public discussion and worries about how it might affect online transactions and financial inclusivity. Businesses and individuals fiercely opposed the tax, which was first implemented to boost domestic revenue, because they saw it as a hindrance to cashless transactions.
Read the full statement from GRA below:
Source: Ghanatodayonline.com
