MoMo-mobile money transaction
MoMo-mobile money transaction

The implementation of the revised Electronic Transfer levy (E-Levy) rate of 1% kicks off today, Wednesday, January 11.

The Ghana Chamber of Telecommunications has announced its preparedness to implement the new rate. 

The service providers are Airtel Mobile Commerce (Ghana) Limited, GCB G-Money, Mobile Money Limited, Vodafone Mobile Financial Services Limited and Zeepay Ghana Limited.

In a press release issued on Tuesday, the Chamber said its members are working assiduously with the Ghana Revenue Authority (GRA) and other institutions, to ensure a seamless implementation of the revised E-Levy rate. 

“The Chamber would like to assure the general public that its members are working assiduously with the GRA and other key institutions, to ensure a seamless implementation of the revised levy from Wednesday, January 11, 2023,” it said.

This follows a directive from the Commissioner General of the Ghana Revenue Authority (GRA), on the implementation of the revised rate. 

“As captured in the Electronic Transfer Levy (Amendment) Act, 2022, Act 1089 which has been passed by parliament and assented to by the President, the levy on electronic transfers has been reduced from 1.5% to 1%, while the GHS 100 threshold remains unchanged,” it said.

The E-Levy was introduced in the 2022 budget as additional revenue mobilisation handle to support government’s quest to undertake some critical projects and improve the quality of service for the telecommunication industry.

However, government revised the rate from the initial 1.5 percent electronic transaction levy downwards to 1 percent effective January 2023.

E-levy rate reviewed to 1%; GH¢100 daily threshold maintained

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Total MoMo transactions hit ¢833.3bn in October 2022 despite E-levy implementation