Home Business and Economy Money MONEY E-Levy: Tax Analyst Outlines 6 Exemptions In New Law Available To Ghanaians Thursday, April 14, 2022 at 1:32 PM by George Nyavor There are six ways to reduce the impact of the Electronic Transaction Levy that are legally sound and above board These six ways are informed by existing exemptions provided under the E-Levy law and some general transactions that the tax does not cover Management and Tax Adviser, Fred Awuttey, has said while one of the ideas to beat the tax is good, it comes with the risk associated with carrying physical cash PAY ATTENTION: Click “See First” under the “Following” tab to see YEN.com.gh News on your News Feed! While many are worried about the impact of the 1.5% E-Levy on their incomes, there are six ways to legally minimise the risk of paying the tax and reduce its impact. The implementation of the much-talked-about E-Levy starts on May 1, 2022, but YEN.com.gh reached out to a tax expert for some brilliant ideas on how to navigate the choppy waters of the unpopular Electronic Transactions Levy. Read more: https://yen.com.gh/business-economy/money/205748-e-levy-6-ways-to-legally-beat-the-15-tax-and-minimise-its-impact/
Here are the six full-proof ways to minimise the impact of the new tax: Download YEN's news app on Google Play now and stay up-to-date with all major Ghana news 1. Chase the chequebook Tax and Management Adviser at tax consulting firm, EM Tax Advisers Ltd, Fred Kwashie Awuttey, has said one of the easiest ways to reduce the E-Levy risks is to use cheques. Clearing cheques by electronic means is exempted from the E-Levy tax, so it provides an excellent alternative to deal with the charges associated with the E-Levy. 2. Do 'physical' cash-in and cash-out Read more: https://yen.com.gh/business-economy/money/205748-e-levy-6-ways-to-legally-beat-the-15-tax-and-minimise-its-impact/
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