blogpay
2 years ago
Ahead of the operationalisation of the controversial Electronic Transaction Levy also known as the "E-Levy"on May 1, 2022, some tax experts and analysts have outlined ways to possibly reduce the impact of this tax on the ordinary Ghanaian.
Ghanaians have expressed outrage over the 1.5% E-Levy and the impact it will have on their incomes and life generally.
In this regard Some tax experts have however outlined some ideas that will help minimise the risk of paying the E-Levy.
According to the experts, if these policies are followed diligently will help minimise if not totally eradicated the effects of this e levy on the ordinary citizen .Below are some of them.
The E-Levy does not cover cash-out and cash-in made at the MoMo vendor. So there is the option of going to a MoMo merchant and asking them to deposit money into a particular MoMo wallet.
The E-Levy does not cover payments made through a merchant's shortcode registered with the Ghana Revenue Authority to pay income tax and VAT.
The E-Levy does not cover transfers between two or more accounts held by one person with a unique Ghana Card ID number.
So to minimise the impact, Ghanaians must update their bank accounts and mobile money accounts with the Ghana Card. This way, they will not be affected by the tax when they transfer money from one account; say from their MTN wallet to their AirtelTigo wallet.
Business men and women who what to pay taxe should pay it through the Ghana government platform with this you wouldnt be taxed but if you decide to use the old method that is sending it through their momo number then you will be taxed.
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