The Ghana Revenue Authority (GRA) has officially declared the immediate abolition of the controversial 1% Electronic Transfer Levy (E-Levy).
This decision follows the President’s approval of the Electronic Transfer Levy Act, 2022 (Act 1075) and its Amendment Act, 2022 (Act 1089) on April 2, 2025, paving the way for its complete removal.
Effective midnight, April 2, 2025, all financial institutions and payment platforms must cease applying the levy and promptly refund any deductions made beyond this date.
The directive, issued by Edward Apenteng Gyamerah on behalf of the Commissioner-General, mandates that all Charging Entities update their systems to ensure transactions reflect “no charge.”
The GRA’s Electronic Transfer Levy Management and Assurance System (ELMAS) will automatically enforce this change, ensuring compliance.
Entities that continue to charge the levy or fail to issue refunds will face strict penalties.
Financial institutions and mobile money operators are required to process refunds immediately and submit detailed reports to the GRA.
While the levy has been abolished going forward, all outstanding E-Levy collected before April 2 must still be accounted for.
To guarantee adherence, the GRA said it will conduct routine compliance checks and enforce legal action where necessary.
Charging Entities must also maintain electronic transfer records for at least six years, as required by law.
The removal of the E-Levy is expected to rejuvenate mobile money transactions and accelerate Ghana’s digital economy.
With the policy now in effect, Ghanaians can transfer money electronically without the burden of additional charges—marking a significant shift in the nation’s financial landscape.
Below is the full statement from GRA
https://docs.google.com/viewer?url=https%3A%2F%2Fwww.theghanareport.com%2Fwp-content%2Fuploads%2F2025%2F04%2FALL-CHARGING-ENTITIES.pdf&hl=en_US&embedded=true
