“The goal of E-levy is to increase tax revenue production without negatively affecting currently operating firms that are already tax-paying. It is not intended to create new tax categories. The public does not view the tax as a good source, thus it has been quite unpopular. However, thanks to improved technology and education, things are starting to change.”
The E-levy, which went into effect in May 2022, levies a 1% tax on any electronic financial transaction that exceeds GH¢100 every day. This includes bank transfers and payments made using mobile money.
It was first put forth in the budget for 2021 with the intention of expanding the tax base and raising additional money for development projects.