During the 2022 budget presentation at the parliament on November 17, 2021, the Finance Minister, Ken Yaw Ofori-Atta announced that a new levy is to be charged by Government in 2022 on electronic transactions to widen the tax net and rope in the informal sector.
He said, “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’.”
He went further to explain that the E-levy will be a 1.75 per cent charge on all electronic transactions covering mobile money payments and inward remittances which will be borne by recipients, however, it will not affect transactions that add up to GHc 100 or less per day.
He said” A portion of the proceeds from the E- levy will be used to support entrepreneurship, youth employment, cyber security, digital and road infrastructure among others”
This new levy will come into effect on Saturday, January 1, 2022.