Ghana’s Parliament has approved the controversial E-Levy Bill after the Minority staged a walked out in protest to express their disaffection about how the tax will increase the hardship facing the ordinary Ghanaian.
The parliament took the decision after the Consideration Stage was completed under a Certificate of Urgency.
The levy was adopted at a reduced rate of 1.5% from the initial 1.75%.
Now for the Bill to be operationalize into law, President Akufo Addo has to assent to it to give it meaning with the legislation.
Before the president append his signature to the bill here is a list of transactions to be affected and exempted when the implementation begins.
According to the arrangements Transactions E-Levy will affect Mobile money transfers between accounts on the same electronic money issuer (EMI)
it continues that Mobile money transfers from an account on one EMI to a recipient on another EMI will be affected
Transfers from bank accounts to mobile money accounts will also be affected
Transfer from mobile money accounts to bank accounts
Bank transfers on a digital platform or application which originate from a bank account belonging to an individual to another individual
The system shows that transactions E-Levy will NOT cover the following
The Finance Ministry has additionally explained with some scenarios where the E-Levy will not apply.
According to him
Cumulative transfers of GHC100 per day made by the same person will not be affected
Transfers between accounts owned by the same person
Transfers for the payment of taxes, fees and charges on the Ghana.gov platform
Electronic clearing of cheques
Specified merchant payments (that is, payments to commercial establishments registered with the GRA for income tax and VAT purposes)
Transfers between principal, master agent and agent’s accounts