Before the inception of e-levy, the service charge for sending GH¢450 was GH¢4.50. But this time around, the sender was charged GH¢3.38.
This translates into a reduction in the rate from 1% to 0.75% as agreed by the Telecos earlier.
E-Levy
In addition to the service charge of GH¢3.38, it was realised that the sender was charged an extra amount of GH¢5.25, representing a rate of 1.50% not on the entire GH¢450 (transacted amount) but rather the value-added (GH¢350) using GH¢100 as the base line.
Total Charge
With a service charge of GH¢3.38 plus e-levy of GH¢5.25, it means, the sender was charged a gross amount of GH¢8.63 for sending an amount of GHC¢450.
What you need to know about E-levy
Electronic transactions that will not come with a 1.5% tax rate.
A cumulative transfer of ¢100 made by the same person.
A transfer 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.
Transfers that will be affected include:
Mobile money transfers done between accounts on the same Electronic Money Issuer.
Mobile money transfer to a receiver on another Electronic Money Issuer [Interoperability transfer]
Transfer from a bank account to [another person’s] mobile money account.
From a mobile money account to [another person’s] bank account.
Bank transfers on an instant paid digital platform.