{"id":27620,"date":"2022-11-24T12:42:50","date_gmt":"2022-11-24T12:42:50","guid":{"rendered":"https:\/\/www.nsemgh.com\/?p=27620"},"modified":"2022-11-24T12:42:52","modified_gmt":"2022-11-24T12:42:52","slug":"e-levy-rate-is-now-1-and-the-100-threshold-has-been-eliminated","status":"publish","type":"post","link":"https:\/\/www.nsemgh.com\/2022\/11\/24\/e-levy-rate-is-now-1-and-the-100-threshold-has-been-eliminated\/","title":{"rendered":"E-levy rate is now 1%, and the $100 threshold has been eliminated"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The government has reduced the Electronic Transfer Levy rate from 1.5% to 1%.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The daily transaction threshold has also been removed.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This, according to the government, will allow more Ghanaians to use the service.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2021\/11\/WhatsApp-Image-2021-11-17-at-1.30.54-PM-1-1024x683.jpeg\" alt=\"E-levy rate reduced to 1%; \u00a2100 threshold removed\" class=\"wp-image-10031955104\" title=\"E-levy rate reduced to 1%; \u00a2100 threshold removed\" \/><figcaption>Finance Minister, Ken Ofori-Atta<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">This was announced by the Finance Minister, Ken Ofori-Atta on Thursday, November 24, during the 2023 budget presentation.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\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,\u201d Ken Ofori-Atta said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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\n\n\n<p class=\"wp-block-paragraph\">The 1.5% rate was a downward revision from the initially proposed 1.75%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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","protected":false},"excerpt":{"rendered":"<p>The government has reduced the Electronic Transfer Levy rate from 1.5% to 1%.&nbsp; The daily transaction threshold has also been removed.&nbsp; This, according to the government, will allow more Ghanaians to use the service. This was announced by the Finance Minister, Ken Ofori-Atta on Thursday, November 24, during the 2023 budget presentation.&nbsp; \u201cReview the E-Levy [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":27622,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[61,43,1],"tags":[5249,5446,12354,12502,2264,483,8630,6306,8628,5612,1153,10722,8629,3954],"class_list":["post-27620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-local-news","category-news","tag-budget","tag-e-levy","tag-finance","tag-ghanaians","tag-government","tag-ken-ofori-atta","tag-ken-ofori-atta-2","tag-mobile-money","tag-momo","tag-money","tag-ofori-atta","tag-removed","tag-telcos","tag-will"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/27620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=27620"}],"version-history":[{"count":0,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/27620\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/27622"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=27620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=27620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=27620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}