Government negotiates with telcos on E-Levy
GRA to oversee collection of E-Levy
The Mayor of the Kumasi Metropolitan Assembly, Sam Pyne, has stated that a lot of misconceptions exist around the Electronic Transfers Levy (E-Levy) which comes into effect next month.
According to Sam Pyne, contrary to the argument that the E-Levy is going to increase the burden on Ghanaians, the E-Levy implementation will result in a much lesser charge than what exists currently.
Speaking on Top FM’s final point, the Kumasi Mayor stated that government in its wisdom has made sure that the policy does not affect poor people.
“Those who send between ₵C90 and ₵10 in a day they are in the majority. They are also the people who will not be affected. They will not pay anything. What is intriguing is that as it stands now when I send you ₵1,000 the operators will deduct ₵10 and you the recipient will also be deducted another ₵10 at the point of withdrawal making it ₵20 in total.
"But once E-Levy is implemented I will pay ₵15 when I send ₵1,000. Out of that same portion is going to the Telcos who would have taken ₵10. The recipient however will not pay anything. So now what would have been a ₵20 charge has reduced to ₵15 for sending and receiving on a ₵1,000 transaction. It is on the same ₵15 that the telcos will take their charges,” he stated.
According to Sam Pyne, the reduction in the cost of transfers for electronic platform users is a result of government’s negotiation with the telecommunication companies.
The Ghana Revenue Authority from May 1, 2022, will commence implementing a 1.5% levy on electronic transactions.
This follows parliament’s approval of the E-Levy bill and the subsequent presidential assent given it and making it a law.
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Kumasi Mayor, Sam Pyne