The Ghana Chamber of Telecommunications, says it is working with the Ghana Revenue Authority, GRA and Electronic Money Issuers or Operators of Mobile Money Services and other key institutions to ensure a seamless implementation of the revised Electronic Transfer Levy (E-Levy) rate of one percent, effective Wednesday, January 11, 2023.
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 one-point-five percent to one percent, while the 100 Cedis threshold remains unchanged. The Chamber in a statement said that as the voice for mobile operators and tower companies, it is assuring the public that it will work with all stakeholders to maximize the socio-economic benefits of mobile money services in the country.
Peter Terkper on E-Levy
On the implementation of the E-Levy, Financial Analyst, Peter Terkper, said the Levy would help in revenue mobilization, though the percentage is high. He is of the view that the government should look at reducing the percentage to bring in more people.
”Government should reduce it drastically; otherwise, when people switch to other mediums of transaction, momo would be negatively affected and it would be against the government”, Mr. Terkper posited.
