The E-Levy was authorized by parliament on Tuesday, March 29th, 2022, and is awaiting presidential signature before becoming operational.
The E-Levy is a new tax measure that will only apply to the person who initiates a transaction on an electronic platform, meaning it will not effect withdrawals. This new fee will apply to platforms such as finetech platforms, online banking, and other network services MoMo platforms, not just MTN MoMo.
The E-Levy has a value of 1.75 percent and will be applied to transactions worth more than 100 cedis per day. This means that if your transaction is worth less than GHS 100 per day, the E-Levy tax will not be applied.
NB: In a single day.
HOW MUCH TO ADD AFTER THE E-LEVY HAS TAKEN EFFECT WHEN USING MoMo.
When transferring money to someone using MTN MoMo, nothing should be added except the Telco charges for transactions under GHS 100 each day.
However, for each transaction above 100 cedis, for example:
You must include GH¢ 4.05. when sending 150 Cedis. As a result, Mtn will deduct GHS 1.50, resulting in a GH¢ 2.55 E-Levy tax charge.
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