{"id":1257106,"date":"2022-11-24T11:35:39","date_gmt":"2022-11-24T11:35:39","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/11\/24\/e-levy-rate-reduced-to-1\/"},"modified":"2022-11-24T11:35:39","modified_gmt":"2022-11-24T11:35:39","slug":"e-levy-rate-reduced-to-1","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/11\/24\/e-levy-rate-reduced-to-1\/","title":{"rendered":"E-levy rate reduced to 1%\u00a0"},"content":{"rendered":"<p><\/p>\n<div id=\"article-text\">\n<p>The government has reduced the Electronic Transfer Levy rate from 1.5% to 1%.\u00a0<\/p>\n<p>The daily transaction threshold has also been removed.\u00a0<\/p>\n<p>This, according to the government, will allow more Ghanaians to use the service.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/11\/WhatsApp-Image-2021-11-17-at-1.30.54-PM-1-1024x683.jpeg\" alt=\"E-levy rate reduced to 1%\u00a0\" class=\"wp-image-10031955104 lazy\"  data- title=\"E-levy rate reduced to 1%\u00a0\"\/><figcaption>Finance Minister, Ken Ofori-Atta<\/figcaption><\/figure>\n<p>This was announced by the Finance Minister, Ken Ofori-Atta on Thursday, November 24, during the 2023 budget presentation.\u00a0<\/p>\n<p>\u201cReview the E-Levy Act and more specifically, reduce the headline rate from 1.5% to 1% of the transaction value as well as removal of the daily threshold.<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<p><div class=\"youtube-embed\" data-video_id=\"yxiEQotbDAE\"><iframe loading=\"lazy\" title=\"E-levy rate reduced from 1.5% to 1% - Ofori-Atta\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/yxiEQotbDAE?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/p>\n<\/figure>\n<p>The Electronic Transfer Levy Act, 2022 (Act 1075) was controversially passed in March 2022 and imposes a levy of 1.5% on electronic transfers.<\/p>\n<p>The 1.5% rate was a downward revision from the initially proposed 1.75%.<\/p>\n<p>Mobile money transactions between 2017 and 2021 increased from \u00a21.55 billion to GH\u00a29.86 billion, but the figure has drastically reduced.<\/p>\n<p><strong>DISCLAIMER: <\/strong>The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The government has reduced the Electronic Transfer Levy rate from 1.5% to 1%.\u00a0 The daily transaction threshold has also been removed.\u00a0 This, according to the government, will allow more Ghanaians to use the service. Finance Minister, Ken Ofori-Atta This was announced by the Finance Minister, Ken Ofori-Atta on Thursday, November 24, during the 2023 budget [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1257109,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[187],"tags":[],"class_list":["post-1257106","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politics"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1257106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1257106"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1257106\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1257106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1257106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1257106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}