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E-levy won’t affect ATM withdrawals at the bank — Ghanaians told

A member of the E-Levy Technical Committee at the Ghana Revenue Authority (GRA) Isaac Amoako, has said ATM withdrawals do not attract E-levy.

Speaking on TV3, he said “If you use checks no E-levy will apply.”

Finance minister Ken Ofori-Atta announced that the government introducing an E-levy in the 2022 budget was to “widen the tax net and rope in the informal sector”.

The tax has sparked a whole lot of controversy among Ghanaians and is estimated to bring in nearly $7 billion in income for the government of Ghana.

After the Minority in Parliament walked out, the Majority in Parliament authorized the E-levy, claiming that the tax is a tool to intensify the hardship of the impoverished Ghanaians.

The bill was passed at a lower rate of 1.50%.

The Ghana Revenue Authority (GRA) has already indicated that its structures have been updated and are ready to ensure revenue collection.

The government will from May 1, 2022, charge a 1.50% rate on the E-levy that are more than GH¢100 on a daily basis.

Daily transactions of the E-levy will cover the following:

  1. Transfers of mobile money between accounts with the same electronic money issuer (EMI)
  2. Mobile money transfers from one EMI account to a recipient on a different EMI
  3. Transfers between the bank and mobile money accounts
  4. Transfers between mobile money and bank accounts
  5. Bank transfers from one person’s bank account to another person’s bank account using a digital platform or application.

The E-levy will not affect

  1. Transfers of GH¢100 are done by the same person on a daily basis.
  2. Transfers from one person’s account to another
  3. Transfers to the Ghana.gov portal for the payment of taxes, fees, and charges
  4. Cheques are cleared electronically.
  5. Payments to specific merchants (that is, payments to commercial establishments registered with the GRA for income tax and VAT purposes)
  6. Transfers between the accounts of the principal, master agent, and agent.

Ghcurtis

I'm a young black Ghanaian entrepreneur (Blogger/Youtuber) with a strong passion for entertaining vibes.... It is with this desire that I have taken it upon myself to seek out young talent and uprising artists to promote their work, hopefully to reach the top...

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