Parliament on Tuesday passed the controversial Electronic Transfer Levy (E-Levy) Bill albeit the Minority caucus staging a walkout.
The only action left is for President Akufo-Addo to assent to it.
The 1.75 percent to be charged has been reduced to 1.50 percent but what products will be affected.
Speaking in an interview on Peace FM's morning show 'Kokrokoo', Deputy Finance Minister, John Kumah gave a breakdown of what will be exempted and affected by the levy.
According to him, the levy will cover:
- transferring from bank accounts to mobile money accounts
- Netflix payment over Ghc100
- Bank transfers on a digital platform
- Mobile money transfers between accounts
E-levy exemptions
According to the Member of Parliament for the Ejisu constituency, "the levy covers every electronic transaction except ATM, point of sale devices and registered momo merchants, clearing of checks, money from account to my phone or phone to account".
This means the levy won't affect:
- GHC100 per day made by the same person
- cumulative amount up to Ghc100
- Transfers between accounts owned by the same person
- Fees and taxes paid on Ghana.gov platform
- Clearing of Check
- Registered MoMo Merchants
- ATM
- Point of Sale Devices
The Deputy Finance Minister further reiterated that, "it doesn't matter how many times you do a transaction for a day; once it adds up to Ghc100 there will be no charges but if you exceed there will be charges. Your first Ghc100 for the day won't be charged but if it exceeds it will attract the 1.5. However, the Ghc100 doesn't necessarily have to be at once it can be cumulative; you won't pay until you cross the Ghc100 threshold".
Source: Peacefmonline.com
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