The Ghana Chamber of Telecommunications has, as of today, January 11, 2023, commenced the implementation of a 1% charge on all electronic transfers.
This is in line with the announcement of the revision of the Electronic Transfers Levy rate from 1.5% to 1% during the presentation of the 2023 budget statement in parliament by the Minister for Finance, Ken Ofori-Atta.
Parliament subsequently debated and passed the revised E-Levy rate before the house went on recess in December 2022.
“As captured in the Electronic Transfer Levy (Amendment) Act, 2022, Act 1089 which has been passed by parliament and assented to by the President, the levy on electronic transfers has been reduced from 1.5% to 1%, while the GHS100 threshold remains unchanged,” the Chamber of Telecommunication stated in a statement ahead of the implementation.
Meanwhile, the Chamber has assured of its collaboration with the Ghana Revenue Authority and other key institutions to ensure a seamless implementation of the revised rate.
As part of the amendment of the E-Levy law, the government had sought to remove the GHC100 threshold as exempted by the initial act.
However, that failed as the minority in parliament which was opposed to the proposal won a vote against it.