Finance Ministry Makes Clarifications On Transactions To Be Affected By E-Levy

The Ministry of Finance has come out to clarify transactions inclusive in the electronic transaction levy which will be brought before the parliament within this week.

The Ministry says only mobile money transactions that is above ¢100 will be taxed.

The exception will be bank transfers owned by the same person. That will not be charged.

Also, transfer from one’s mobile money account to the another mobile money account of the same holder but on a different network will not be charged.

Transaction and payments to the Ministries, Departments and Agencies and Assemblies via the Ghana.gov platform are to be exempted.

The Ministry again clarified that payments to be made to a commercial establishment through a payment service, be it mobile money, bank application or a financial firm from a person registered with an intention of income tax or value-added tax is to be exempted. This they said will apply to both online and physical sales.

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Monthly incomes and allowances of teachers averaging ¢1,500 will also not attract any deductions.

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Workers with an average monthly salary of ¢3,000 and with linkage to their mobile money wallet will also not be charged.

Farmers were not left out of the e-levy exemptions. All farmers with an average monthly salary of 500 cedis will not be affected by the levy. Farmers paying for their farm inputs and medical bills are not to be included on the e-levy list.

Last week, the Finance Minister, Hon. Ken Ofori-Atta, revised the bill with a deduction in a bill from 1.75% to 1.50%

It is expected to be tabled before Parliament this week despite the stiff opposition from the Minority

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