The Ghana Chamber of Telecommunications has announced that telcos in the country will start implementing the reduced E-Levy charge of 1.00% from the initial 1.5% effective Wednesday, January 11, 2023.
The chamber announced this in a statement issued on Tuesday, January 10l 2023.
“Following the directive from the Commissioner General of the Ghana Revenue Authority (GRA)
the implementation of the revised Electronic Transfer Levy (E-Levy) rate of 1% by Airtel Mobile
Commerce (Ghana) Limited, GCB G-Money, Mobile Money Limited, Vodafone Mobile Financial
Services Limited and Zeepay Ghana Limited, will commence on Wednesday January 11, 2023″ it said.
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 GHS 100 threshold remains unchanged.
The Chamber assured the public that its members are working assiduously with the GRA and other key institutions, to ensure a seamless implementation.
Following the implementation of the levy, telcos registered a loss of over 300,000 mobile money subscribers in April 2022.
Furthermore, the mobile money industry lost 4,000 active agents, as their number declined to 454,000 in April from the previous month’s 458,000. This reflected in the value of transactions, which dropped by GH¢2.8billion within the period under discussion.
Many Ghanaians kicked against the E-levy, but the government still went ahead with it to raise domestic revenue for development.
