The Ghana Chamber of Telecommunications has begun implementing a 1% charge on all electronic transfers as of today, January 11, 2023.
This is consistent with the announcement by the Minister of Finance, Ken Ofori-Atta, of a reduction in the Electronic Transfers Levy rate from 1.5% to 1% during the presentation of the 2023 budget statement in parliament.
Parliament then debated and approved the revised E-Levy rate before adjourning in December 2022.
“As reflected 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 GHS100 threshold remains unchanged,” the Chamber of Telecommunications stated ahead of the implementation.
Meanwhile, the Chamber has pledged to work with the Ghana Revenue Authority and other key institutions to ensure that the revised rate is implemented smoothly.
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The government sought to remove the GHC100 threshold as exempted by the initial act as part of the amendment to the E-Levy law.
However, that failed because the proposal was defeated by a vote of the minority in parliament.
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