E-levy

MoMo Agents Threaten Strike Over E-levy
20 Mar

MoMo Agents Threaten Strike Over E-levy

Wontumi1Business, ,
The Mobile Money Advocacy Group Ghana (MOMAG) and Momo Agents are up in arms with the Ghana Revenue Authority (GRA) for imposing E-levy on agent SIM cards. They argue that, this levy amounts to double taxation for their businesses. Despite engaging in discussions with the GRA to address their grievances, MOMAG said no satisfactory resolution has been achieved. The additional levy, coupled with the existing 10% income tax on transactions, is significantly impacting the financial viability of their operations, according to MOMAG. In a statement released on Wednesday, March 20, 2024, MOMAG revealed the urgency of the situation. According to…
Read More
Govt Generated GH¢1.19 Billion From E-levy In 2023 – John Kumah
22 Feb

Govt Generated GH¢1.19 Billion From E-levy In 2023 – John Kumah

Wontumi1Business
Deputy Minister of Finance, Dr. John Kumah, has disclosed that the government collected a total of GH¢1.19 billion in revenue from the E-levy for the year 2023. From this sum, the government allocated funds to its YouStart Program, the Ghana Enterprise Agency, and the National Entrepreneurship and Innovation Programme to combat unemployment in the country. Dr. John Kumah made these remarks in response to the latest figures from the Ghana Statistical Service, which indicated that over a million Ghanaian youth were unemployed, during the media launch of the Wealth and Jobs Expo Ghana. “The Ghana Statistical Service on Wednesday announced…
Read More
Transfers Between Bank Accounts Linked To Momo Wallet Should Not Attract E-Levy – GRA Insists
07 Dec

Transfers Between Bank Accounts Linked To Momo Wallet Should Not Attract E-Levy – GRA Insists

Wontumi2Business
The Ghana Revenue Authority (GRA) has reaffirmed its position regarding Electronic Transaction Levy (E-Levy) charges, specifically addressing concerns related to transactions between bank accounts and mobile money wallets. The GRA has made it clear that accounts linked directly to one's mobile money wallet should not attract any E-Levy charges during transactions. The clarification comes in response to an X user's request for clarity on recent deductions being reported on social media. The user questioned "Are taxes imposed on the transfer of monies from bank accounts to linked momo numbers a directive from your office? @Ghana Revenue." In response, the GRA clarified that any charges…
Read More
Cut E-Levy By Half – Telcos Chamber To Gov’t
25 Nov

Cut E-Levy By Half – Telcos Chamber To Gov’t

Wontumi2Business
The Ghana Chamber of Telecommunications (GCT) has urged the government to reduce the Electronic Transfer Levy (E-levy) from 1% to 0.5% and introduce a 0.5% levy on cash-outs to align with Ghana's digital-first strategy. Despite facing initial challenges, the E-levy has generated significant revenue of GH¢482.8 million towards the targeted GH¢6.9 billion. The GCT emphasised the need for further adjustments to encourage digital payments and support the government's digital transformation goals. In 2022, the telecom industry contributed over GH¢6 billion in taxes and payments, marking a 50% increase from GH¢4 billion in 2021. The GCT's 2022 Mobile Industry Transparency Initiative…
Read More
One Million Mobile Money Accounts Were Inactive After E-levy Implementation In May 2022 – ISSER
06 Nov

One Million Mobile Money Accounts Were Inactive After E-levy Implementation In May 2022 – ISSER

Wontumi1Business
About one million mobile money accounts were inactive after the implementation of the Electronic Transfer Levy in May 2022, a research by the Institute of Statistical, Social and Economic Research (ISSER) has revealed. This was from 19.1 million to 18.1 million in July 2022. Following the review, ISSER, said, the number of registered and active accounts and agents remained on an upward trend in January 2023 while the number of active accounts dropped by 100,000 by February 2023. Between March and April 2022, the total number of transactions fell by 10 million while the total value fell by ¢2.8 billion.…
Read More
Government Plans Comprehensive Redesign Of E-Levy
09 Oct

Government Plans Comprehensive Redesign Of E-Levy

Wontumi1Business
Government has unveiled plans for a substantial overhaul of the Electronic Transfer Levy as part of its Medium Term Revenue Strategy. This move signifies a dedicated effort to revamp and optimize this taxation policy for greater efficiency and effectiveness. In May 2022, the deeply unpopular tax on mobile money transactions, known as the e-levy was introduced. When it was introduced, the levy was structured as a 1.5% charge on all electronic and mobile money transactions over ¢100 per day. The e-levy was designed to raise more money for the government by extracting larger tax contributions from Ghana’s informal sector. In…
Read More
E-Levy Rakes In 11% Revenue For Q1 2023
25 May

E-Levy Rakes In 11% Revenue For Q1 2023

Wontumi2Business
At the 25 percent mark of the year, data from the Ghana Revenue Authority (GRA) reveals that the Electronic Levy (E-Levy) generated GH¢246.9million in revenue, accounting for 11 percent of the projected GH¢2.24billion for the year. Since its implementation 11 months ago in May 2022, the E-Levy had generated a total of GH¢861.47million revenue by March 2023. In its first seven months, the E-levy, set at a rate of 1.5 percent, contributed GH¢614.57million; thereby surpassing the multi-revised target of GH¢611million. Revenue from it has shown consistent, albeit marginal, growth since the inception of the E-levy, according to the GRA. In May 2022…
Read More
E-levy Policy: MMAAG Not Opposed To Tax Agenda Of Government
10 May

E-levy Policy: MMAAG Not Opposed To Tax Agenda Of Government

wontumionline.comBusiness, ,
E-levy Policy: MMAAG Not Opposed To Tax Agenda Of Government Mobile Money Agents Association of Ghana (MMAAG), says it is not opposed to the government’s tax revenue agenda including the newly introduced electronic levy tax (E-levy). According to the Association, they admittedly opposed the introduction of the levy, but after broad consultations and discussions, they have decided to support the tax policy and they are committed to working with all relevant stakeholders to make the levy a successful national policy. The Association made this known when they paid a courtesy call on President Akufo-Addo at the Jubilee House today, Tuesday…
Read More
E-Levy Implementation: GRA Sabotaging Government- Nana Kay
07 May

E-Levy Implementation: GRA Sabotaging Government- Nana Kay

wontumionline.comBusiness, , ,
E-Levy Implementation: GRA Sabotaging Government- Nana Kay The Ghana Revenue Authority (GRA) was not ready for the commencement of the e-levy hence they are sabotaging the New Patriotic Party (NPP) for implementing e-levy, A Communications team member of the New Patriotic Party (NPP), Nana Kwadwo Agyei Yeboah popularly known as Nana Kay, has said. His comments follow the challenges that have characterized the policy since it started on Sunday, May 1. “The Ghana Revenue Authority Commissioner General and his staff are sabotaging the government for NDC to use as a propaganda tool against the government,’’ Nana Kwadwo Agyei Yeboah(Nana Kay)…
Read More
Bridget Otoo Labeled ‘Kurasenibaa’ For Insulting NPP Sympathizers (VIDEO)
04 May

Bridget Otoo Labeled ‘Kurasenibaa’ For Insulting NPP Sympathizers (VIDEO)

Kakra NunuNews, ,
A Member of the National Communications team of the ruling NPP, Ellen Ama Daaku has labeled broadcast Journalist- Bridget Otoo as “kurasenibaa” to wit a primitive person following the latter’s uncouth response on Facebook towards NPP members. Without mentioning Bridget Otoo’s name on TV, Ama Daaku revealed that the journalist wanted to capitalize on the introduction of e-levy charges to insult sympathizers of the NPP who didn’t side with her Facebook post. “There is a lady who works in a certain media house, she sat on social media to insult NPP members that she has been charged GHC 125 on e-levy.…
Read More