You are here: HomeBusiness2022 05 06Article 1531940

Business News of Friday, 6 May 2022


BizTech: All you need to know about the E-Levy from announcement to implementation

The implementation of the E-Levy began from May 1, 2022 play videoThe implementation of the E-Levy began from May 1, 2022

Finance Minister announces imposition of E-Levy

E-Levy to rake in GH¢4.5billion

GRA begins implementation of E-Levy

The Ghana Revenue Authority has begun the implementation of the electronic transfer levy. However, this implementation came after various stages of opposition and disapproval from the Minority in parliament and the general public.

In November last year, Finance Minister Ken Ofori-Atta during the presentation of the 2022 budget announced that effective January 1, 2022, all electronic transactions will attract a 1.75% levy, expected to rake in about GH¢6.7billion in revenue. Minority in Parliament vehemently kicked against the levy explaining that the imposition of a tax on mobile money and other electronic transactions will erode the country’s gains in attaining digital financial inclusion.

Government, however, went ahead to pass the levy after a walkout staged by the Minority.

The Minority is currently in court to dispute the constitutionality of the passage of the levy.

In this week’s edition of BizTech, we bring you a detailed account of the happenings surrounding the levy’s implementation to date.

Watch the latest episode of BizTech below;