The Ghana Revenue Authority (GRA) has officially abolished the 1% Electronic Transfer Levy (E-Levy) following the President’s assent to the Electronic Transfer Levy Act, 2022 (Act 1075) and its Amendment Act, 2022 (Act 1089).
Effective midnight, April 2, 2025, all financial institutions and mobile money operators must stop applying the levy and initiate refunds for deductions beyond this date. The GRA Electronic Transfer Levy Management and Assurance System (ELMAS) will automatically process transactions with a “no charge” status.
According to Edward Apenteng Gyamerah, Commissioner of the Domestic Tax Revenue Division, institutions that fail to stop charging the levy or delay refunds will face legal action and penalties.
All entities must:
Reconfigure systems to remove E-Levy charges.
Process refunds promptly for transactions charged after April 2, 2025.
Submit detailed refund reports to the GRA.
File and pay all outstanding E-Levy collections before April 2, 2025.
The abolition of the controversial E-Levy is expected to revive mobile money transactions and promote digital financial inclusion. Economic analysts see this as a strategic move to strengthen Ghana’s digital economy.
With electronic transactions now tax-free, Ghanaians can enjoy seamless money transfers. However, the GRA has vowed strict enforcement, ensuring all financial institutions fully comply with the directive.
