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MoMo cash-in and cash-out, remittances, utility payments not to attract E-Levy – GRA

4 years ago
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MoMo cash-in and cash-out, remittances, utility payments not to attract E-Levy – GRA

Implementing institution of the E-Levy, the Ghana Revenue Authority (GRA), has revealed another set of digital transactions that are not to attract the 1.5% E-Levy charge.

In a media engagement, the tax collection body noted that remittances from Ghanaians abroad, cash-in and cash-out from mobile money accounts will not be charged with E-Levy.

Additionally, payments for utility bills and purchases of airtime will also not attract the levy provided the utility or airtime provider is registered with the GRA for income tax or VAT.

Withdrawals from ATMs are also exempted from the 1.5% charge.

Read: Government will have to print money in order to pay public sector workers – Prof Adei

The above adds to the following transactions that will not attract the E-Levy charges;

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  • A cumulative transfer of GHS 100 made by the same person.
  • A transfer 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.

In view of the above, the GRA asserts that transactions that are to attract E-Levy charges include;

  • Mobile money transfers done between accounts on the same Electronic Money Issuer.
  • Mobile money transfer to a receiver on another Electronic Money Issuer [Interoperability transfer]
  • Transfer from a bank account to [another person’s] mobile money account.
  • From a mobile money account to [another person’s] bank account.
  • Bank transfers on an instant paid digital platform.

Source: norvanreports
Tags: Bank of Ghana (BoG)BitcoinBOGChinaCovid-19COVID-19 pandemicghanaIMFmobile moneyMobile Money (MoMo) transactionsmomoMoMo cash-in and cash-outMoMo overtakes all payment platforms in GhanaMoMo transactions fall by GHS 10bn over impending E-levy implementationNigeriaremittancesutility payments not to attract E-Levy – GRAWorld Bank
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