The Parliament of Ghana approved the Electronic Transactions (E-Levy) Bill pushed by the Minister of Finance, today Tuesday 29, 2022.
This bill was passed after the Consideration Stage was completed by only the Majority group in the House this afternoon under the certificate of urgency.
The E-Levy was adopted at a reduced rate of 1.5% from the initial 1.75% amid a Minority walkout and currently awaiting President Akufo-Addo assent.
Here is a list of transactions to be affected and exempted after the bill is signed.
Transactions E-Levy Bill will cover
- Mobile money transfers between accounts on the same electronic money issuer (EMI)
- Mobile money transfers from an account on one EMI to a recipient on another EMI
- Transfers from bank accounts to mobile money accounts
- Transfer from mobile money accounts to bank accounts
- Bank transfers on a digital platform or application which originate from a bank account belonging to an individual to another individual
Transactions E-Levy Bill will NOT cover
- Cumulative transfers of GHC100 per day made by the same person
- Transfers 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 principal, master agent and agent’s accounts