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Parliament of Ghana Approves Levy on Electronic Transactions — Orbitax Tax News & Alerts

On 29 March 2022, the Parliament of Ghana approved the Electronic Transfer Levy Bill, 2021 in the second and third readings, which provides for the introduction of a new levy on electronic transactions. As reported earlier, the proposal for the introduction of an "Electronic Transaction Levy" or "E-Levy" was included as part of the 2022 Budget but was initially rejected. As approved, the E-Levy will be levied at a rate of 1.5% on electronic transactions covering mobile money payments, bank transfers, merchant payments, and inward remittances, which is down from the originally proposed rate of 1.75%. Originally proposed to apply from February 2022, the government is reportedly planning to implement the E-Levy from May 2022. Further details on the implementation will be published once available.