The Electronic Transfer Levy Act, 2022 (Act 1075).
As passed by Parliament and assented by the President of Ghana.
Purpose
1. Enhance revenue mobilisation.
2. To raise revenue to support
The rate is 1.50% transactions of more than GH100, The levy works with a daily threshold of GH100.
In that deduction are made after the daily threshold. Once the daily threshold is met, all other transfers will apply elevy.
For instance, if a cup is filled to it maximum level, it over flows. So consider that the daily GH100 is the maximum level of the cup.
Tips to reduce the burden
1. You can reduce the charges from the Telcos.
Eg: switching to Vodafone such that charges are deducted monthly and not per transactions made.
2. Maximum daily transaction of GH100.
Eg: if not very urgent don’t send more than GH100 a day. Thus split the money and send in bits, GH100 each day.
3. Send money as airtime
Send the money as airtime to your family, friend or ….. and then he or she will convert back to money.
