E-LEVY: How Much to Add as Charges When Transferring Money Using MTN MoMo

E-LEVY: How Much to Add as Charges When Transferring Money Using MTN MoMo

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The E-Levy has been approved by the parliament of Ghana on Tuesday, 29th March 2022 and is waiting for the presidential approval for it to take effect.

E-Levy Update

E-Levy is a new tax measure that will be applied only to the originator of a transaction on an electronic platform meaning it don’t affect withdrawal transactions. Note that it’s not only MTN MoMo that this new tax will apply to but platforms like finetech platforms, online banking and other network services MoMo platforms.

The Value of the E-Levy is 1.75% and it’ll be applied on transactions above 100 cedis meaning if your transaction involves an amount less than GHS 100 in a day, the E-Levy tax will not affect the transaction.

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NB: In a day….

How Much to Add When Using MoMo After E-Levy Is in Effect

So for transactions below GHS 100 in a day, nothing should be added when transferring money to someone using MTN MoMo except the Telco charges.

But for every transaction above 100 cedis for example:

When sending 150 Cedis, you’ll have to add GHS 4.05. Thus, Mtn will deduct GHS 1.50 and the new E-Levy tax charge is GHS 2.55.

Check the Table below for more clarifications on e-levy charges in Ghana…

By WhatstrendingGh (self-media writer)

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