Parliament Approves E-Levy: Full List of Transactions the E-Levy will Cover

The parliament of the government of Ghana has approved the E-Levy bill which was earlier proposed. Here is the full transactions list of what the E-Levy bill will Cover as the bill is now awaiting President Akufo-Addo’s Signature.

After the Minority in Parliament walked out, the Majority in Parliament authorized the E-Levy, claiming that the tax is a tool to intensify the hardship of poor Ghanaians.

After the Consideration Stage was completed under a certificate of urgency, the decision was made on March 29, 2022.

The bill was passed at a lower rate of 1.5 percent, down or lower than the 1.75 percent which was originally stated.

The tax, which has sparked a whole lot of controversy among Ghanaians, is estimated to bring in nearly $6 billion in income for the government of Ghana.

The Ghana Revenue Authority (GRA) has already indicated that its structures have been updated and are ready to ensure revenue collection.

As Parliament waits for the President’s approval to move forward with the legislation, below is a list of transactions that the e-levy will cover or be affected and those that will be exempt when the implementation begins. Check: Fight breaks out in Ghana Parliament over e-levy voting

List of Transactions the E-Levy will Cover

Transactions the E-Levy will Cover

1. Transfers of mobile money between accounts with the same electronic money issuer (EMI)
2. Mobile money transfers from one EMI account to a recipient on a different EMI
3. Transfers between bank and mobile money accounts
4. Transfers between mobile money and bank accounts
5. Bank transfers from one person’s bank account to another person’s bank account using a digital platform or application.

Transactions the E-levy will not cover

1. Transfers of GHC100 done by the same person on a daily basis.
2. Transfers from one person’s account to another
3. Transfers to the Ghana.gov portal for the payment of taxes, fees, and charges
   Cheques are cleared electronically.
4. Payments to specific merchants (that is, payments to commercial establishments registered with the GRA for income tax and VAT purposes)
5. Transfers between the accounts of the principal, master agent, and agent