The Government of Ghana has passed the Electronic Transfer Levy (E-Levy) Act, which imposes a levy of 1.50% on electronic transfers at the time of transfer. This initiative by the Government is meant to broaden the tax base in the country and generate revenue.
The new law provides that the E-Levy does not apply to:
On the other hand, the E-Levy does apply to:
The Ghana Revenue Authority (“GRA”) is responsible for collecting the E-Levy, proceeds from which will be paid into the Consolidated Fund by the GRA’s Commissioner-General. The GRA will also be responsible for submitting quarterly reports on the performance of the E-Levy to the Minister of Finance on a quarterly basis. The Minister of Finance will, in turn, report on the funds to Parliament during the mid-year review of the national budget and two (2) months after the end of the financial year.
The E-Levy is slated to take effect in Ghana on 1 May 2022.