Filed photo of people transacting Mobile Money (MoMo) business
Filed photo of people transacting Mobile Money (MoMo) business
APPROVAL OF THE E-LEVY BILL INTO LAW
• Parliament of Ghana has approved the Electronic Transfer Levy Bill on Tuesday, 29th March, 2022.
• The Bill was adopted at a reduced rate of 1.5% from the initial 1.7% amid the Minority walkout.
• The Electronic Transfer Levy Bill has been assented into Law by President Nana Addo Dankwa Akufo-Addo on Thursday, 31st March, 2022.
• The Electronic Transfer Levy Act, 2022 (Act 1075) imposes a levy of 1.5% on all electronic transfers.
REDUCTION OF MOMO CHARGES
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• According to the Minister of Communications and Digitalization Hon. Ursula Owusu-Ekuful, the Telcos have agreed to reduce the 1% Momo charges to 0.75% on any transaction effective 1st May, 2022.
COMMENCEMENT OF E-LEVY CHARGES
• The Ghana Revenue Authority has announced the effective implementation of the Electronic Transfer Levy Act on Sunday, 1st May, 2022.
HOW TO CALCULATE AMOUNT CHARGE BY TELCOS ON MOMO AND THAT OF GRA ON E-LEVY
• Mathematically, multiple any amount of money you want to transfer by 0.75% (0.0075) to get the charge of MoMo transaction.
• Also, multiple any amount of money you want to transfer by 1.5% (0.015) to get the E-levy charges on any transaction.
NEW MOBILE MONEY CHARGES IN GHANA
The table below shows new mobile money charges and E-levy charges on all transactions.
MOMO VALUE TELCO CHARGES (0.75%) E-LEVY CHARGES (1.5%) TOTAL CHARGES
GH? 100 GH? 0.75 GH? 0.00 GH? 0.75
GH? 150 GH? 1.125 GH? 2.25 GH? 3.375
GH? 200 GH? 1.50 GH? 3.00 GH? 4.50
GH? 250 GH? 1.875 GH? 3.75 GH? 5.625
GH? 300 GH? 2.25 GH? 4.50 GH? 6.75
GH? 350 GH? 2.625 GH? 5.25 GH? 7.875
GH? 400 GH? 3.00 GH? 6.00 GH? 9.00
GH? 450 GH? 3.375 GH? 6.75 GH? 10.125
GH? 500 GH? 3.75 GH? 7.50 GH? 11.25
GH? 550 GH? 4.125 GH? 8.25 GH? 12.375
GH? 600 GH? 4.50 GH? 9.00 GH? 13.50
GH? 650 GH? 4.875 GH? 9.75 GH? 14.625
GH? 700 GH? 5.25 GH? 10.50 GH? 15.75
GH? 750 GH? 5.625 GH? 11.25 GH? 16.875
GH? 800 GH? 6.00 GH? 12.00 GH? 18.00
GH? 850 GH? 6.375 GH? 12.75 GH? 19.125
GH? 900 GH? 6.75 GH? 13.50 GH? 20.25
GH? 950 GH? 7.125 GH? 14.25 GH? 21.375
GH? 1000 GH? 7.50 GH? 15.00 GH? 22.50
GH? 1,500 GH? 11.25 GH? 22.5 GH? 33.75
GH? 2,000 GH? 15.00 GH? 30.00 GH? 45.00
GH? 2,500 GH?18.75 GH? 37.50 GH? 56.25
GH? 3,000 GH? 22.50 GH? 45.00 GH? 67.50
GH? 3,500 GH? 26.25 GH?52.50 GH? 78.75
GH? 4,000 GH? 30.00 GH? 60.00 GH? 90.00
GH? 4,500 GH? 33.75 GH?67.50 GH? 101.25
GH? 5,000 GH? 37.50 GH? 75.00 GH? 112.50
GH? 5,500 GH? 41.25 GH? 82.50 GH? 123.75
GH? 6,000 GH? 45.00 GH? 90.00 GH? 135.00
GH? 6,500 GH?48.75 GH? 97.50 GH? 146.25
GH? 7,000 GH? 52.50 GH? 105.00 GH? 157.50
GH? 7,500 GH? 56.25 GH? 112.50 GH? 168.75
GH? 8,000 GH? 60.00 GH? 120.00 GH? 180.00
GH? 8,500 GH? 63.75 GH? 127.50 GH? 191.25
GH? 9,000 GH? 67.50 GH? 135.00 GH? 202.50
GH? 9,500 GH? 71.25 GH? 142.50 GH? 213.75
GH? 10,000 GH? 75.00 GH? 150.00 GH? 225.00
GH? 15,000 GH? 112.5 GH? 225.00 GH? 337.50
GH? 20,000 GH? 150.00 GH? 300.00 GH?450.00
GH? 25,000 GH? 187.5 GH? 375.00 GH? 562.5
GH? 30,000 GH? 225.00 GH? 450.00 GH? 675.00
GH? 35,000 GH? 262.5 GH? 525.00 GH? 787.50
GH? 40,000 GH? 300.00 GH? 600.00 GH? 900.00
GH? 45,000 GH? 337.5 GH? 675.00 GH? 1,012.5
GH? 50,000 GH? 375.00 GH? 750.00 GH? 1,125.00
Do this before bed and watch your stomach shrink
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