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The government, as part of strategies to widen the country’s tax net, has announced an Electronic Transaction Levy.
It will be a 1.75 percent charge on all electronic transactions.
This fee, according to the Finance Minister, Ken Ofori-Atta, is to enhance financial inclusion and protect the vulnerable.
Transactions covering mobile money payments, banks transfers, merchant payments, and inward remittances will have the levy imposed on them and will be borne by the sender.
However, the levy will be waived for transactions that amount to GHS 100 or less in a day or approximately GHS 3,000 per month.
The government says portions of revenue collected from the levy will be used to support entrepreneurship, youth employment, cybersecurity, digital, and road infrastructure among others.
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Source: GhArticles.com
