The charges for the E levy tax which is implemented in Ghana 2022, as well as E Levy Charges on Mobile Money Transactions in Ghana, are listed below in this article.
About E Levy
The Parliament of Ghana passed the Electronic Levy, often known as the E-levy, on March 29th, 2022. With this, Electronic 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, are subject to a 1.5 percent tax reduction.
The E-Levy applies to the following five main transactions, with others being exempted as indicated below.
List of Transactions the E-Levy Charges will Cover 2022
- Transfers of mobile money between accounts with the same electronic money issuer (EMI)
- Mobile money transfers from one EMI account to a recipient on a different EMI
- Transfers between bank and mobile money accounts
- Transfers between mobile money and bank accounts
- Bank transfers from one person’s bank account to another person’s bank account using a digital platform or application.
List of Transactions the E-levy Charges will not cover 2022
- Transfers of GHC100 done by the same person on a daily basis.
- Transfers from one person’s account to another
- Transfers to the Ghana.gov portal for the payment of taxes, fees, and charges
Cheques are cleared electronically. - Payments to specific merchants (that is, payments to commercial establishments registered with the GRA for income tax and VAT purposes)
- Transfers between the accounts of the principal, master agent, and agent
E Levy Charges on Mobile Money 2022
| MoMo Value | Telco Charges (0.75%) | E-Levy Charges (1.5 %) | Total Charges |
| GHȻ 100 | GHp 0.75p | GHȻ 0.00 | GHp 0.75 |
| GHȻ 150 | GHȻ 1.125 | GHȻ 2.25 | GHȻ 3.38 |
| GHȻ 300 | GHȻ 2.25 | GHȻ 4.50 | GHȻ 6.75 |
| GHȻ 500 | GHȻ 3.75 | GHȻ 7.50 | GHȻ 11.25 |
| GHȻ 1000 | GHȻ 7.50 | GHȻ 15.00 | GHȻ 22.50 |
| GH 2000 | GHȻ 15.00 | GHȻ 30.00 | GHȻ 45.50 |
| GHȻ 5000 | GHȻ 37.00 | GHȻ 75.00 | GHȻ 112.50 |
- E-Levy Charges have been reduced from 1.75% to 1.5%
- Telecommunications Providers have agreed to reduce charges from 1% to 0.75%
- Mobile money transactions between Mobile money accounts that exceed GHC 100 will be subject to a 1.5 percent levy.
- This means that all mobile money transactions worth more than GH100 would be charged a 1.5 percent fee.
- Withdrawals from mobile money accounts, on the other hand, will not be taxed.
- The E Levy Charges will not apply to mobile money transfers of less than GH100 made by one person per day.
- However, all person-to-person mobile transactions, such as sending money to another account, paying for goods and services, and paying for utilities, will be affected.
- Furthermore, all merchant payments including payments made with point-of-sale (POS) devices would be affected in the same way.
Check:
- NTC Registration Portal 2022/2023
- Mastercard Foundation Scholarship 2022
- New MOMO charges before and after 2022 budget
How To Avoid the E Levy Charges 2022
Here are a few tips or options on how to Avoid Having to Pay or avoid paying the E Levy charges or tax;
1. Send a maximum of GHC 100 daily
- Send GHC 100 to your receiver every day until the entire amount you intend to send is depleted. Example, if you wish to pay GHS 300 to your Son every month, start by sending GHS 100 every day until he receives the GHC 300 in full.
2. Use Cash Transactions
- Instead of using Mobile Money Transfers, use cash transactions more often.
3. Cheque Payments
- Payments can be Made By Cheque as well