E-levy, Mobile Money Transfer Tax – Everything You Need To Know

E-Levy
E-Levy

On 17 November 2021, Ken Ofori-Atta said the Government of Ghana decided to tax all electronic transactions in the informal sector to cover the tax net.

E-levy

On 17 November 2021, Ken Ofori-Atta said the Government of Ghana decided to tax all electronic transactions in the informal sector to cover the tax net.

 

He made this known in the 2022 budget statement and economic policy that was read in the parliament of Ghana. 1.75% is the rate of the E-levy which the Government decided to apply on all transactions.

 

Ken Ofori-Atta said it could raise about $1.15billion which will widen the tax net. According to John Kumah, the money generated from the levy would be used for the payments of contractors in Ghana. Also, revenue from the levy would be used to support entrepreneurship, cyber and digital security; road infrastructure and provide jobs to about 11million people in the country.The Government of Ghana said that the introduction of the levy was due to the rise of the use of digital platforms for transactions because of the COVID-19 pandemic.

 

In this article, we shall address some of the frequently asked questions about the e-levy.

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