Momo. 1.75% levy on momo and other electronic gadgets

Local News

1.75% levy charge on momo transactions and other electronic gadgets. As part of strategies to widen the country’s tax net, the government has announced an Electronic transaction levy

“After considerable deliberations, the government has decided to place a levy on all electronic transactions to widen the tax net and rope in the informal sector. This shall be known as the “Electronic Transaction Levy or E-Levy”, Ken Ofori-Atta said on Wednesday, during the presentation of the 2020 Budget in parliament

Transactions covering mobile money payment, bank transfer, bank transfer, merchants payment, and inward remittance will have levy imposed on them and will be borne by the sender

The levy will be waived on transactions that amount to GH₵ 100 or less in a day or approximately GH₵ 3,000 per month.

According to the government, portion of the revenue collected will be used to support entrepreneurship, cyber security, youth employment, digital and road infrastructure among others

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