The implementation of the Electronic Transaction Levy (E-levy) commences today, May 1, as announced by the Ghana Revenue Authority (GRA).
This means a rate of 1.5% will be imposed on all electronic transactions above GH¢100.00 starting Sunday.
Already, some Ghanaians have put the system to a test and have shared their experiences on Twitter.
According to some users, they engaged in transactions above the GH¢100 threshold, but did not experience the effect of the levy.
An amount of GH¢450 was used to test the system.
Service Charge
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.
Transfers that will be affected include:
This website uses cookies.
Read More