Electronic transactions have been the norm in Ghana since the introduction of mobile banking by Guaranty Trust Bank Ghana Limited (GT Bank) on the 13th of March 2006. Alongside this, a merchant payment service was launched by MTN Ghana in January 2017 to increase mobile transactions in markets and drive financial inclusions. So, without further ado, on the 1st of May 2022, an e-levy tax was set on these merchant payment services due to their convenience and their high patronage in the country. Hence, the tax aims at mobilising revenue, supporting entrepreneurship, increasing Ghana’s tax-to-GDP and many others. Below is some more information about the e-levy tax.
- What is an e-levy tax?
- What is the rate or charge of the levy?
- How will the levy be applied?
- Who is responsible for charging the E-Levy and how will it be charged?
- What transactions fall under the E-Levy?