As Ghanaians brace themselves for the Electronic Transfer Levy (E-Levy) to be implemented next month, the Ghana Revenue Authority (GRA) has outlined the transactions that will not be affected by the new tax policy. With this, Electronic transactions such as mobile money transfers, bank to bank transfers, bank to mobile money transfers, and online payment transactions with payment platforms such as Visa Card, Master Card, and PayPal, among others, are subject to a 1.5 percent tax.
According to the Ghana Revenue Authority (GRA), even though the tax policy is to broaden the tax net, not all electronic transactions will come with a 1.5% tax rate.
Below is the full charges and E-Levy charges on all networks that will take effect next month (May).
However, there are loopholes in every situation. Here is a simple way to find your way around the E-Levy.
Send a maximum of GHC 100 daily: Since E Levy Charges will not apply to mobile money transfers of less than GHC 100 made by one person per day, it is advisable for people who don’t want to be deducted to send a maximum of GHC 100 to your receiver every day until the entire amount you intend to send is depleted. For example, if you wish to send GHS 500 to your fiancé every month, start by sending GHS 100 every day until he or she receives the GHC 500 in full.
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