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Gov't slaps 1.75 Percent E-levy on MoMo, electronic transactions

Finance Minister Ken Ofori-Atta has announced a new 1.75 per cent tax called E-levy on mobile money and all electronic transactions in the country as a measure to “rope in the informal sector into the tax net.”

The Minister announced this while reading the 2022 Budget in Parliament, saying that the decision is part of a number of measures to widen the tax net to ensure all Ghanaians paid their fair share of taxes.

“After considerable deliberations, Government has decided to place a levy on all electronic transactions to widen the tax net and rope in the informal sector. This shall be known as the “Electronic Transaction Levy or E-Levy.

“Electronic transactions covering mobile money payments, bank transfers, merchant payments and inward remittances will be charged at an applicable rate of 1.75%, which shall be borne by the sender except inward remittances, which will be borne by the recipient,” he said.

Nov. 17, 2021