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E-Levy: 8 out of 10 Ghanaians have changed MoMo transaction behaviour – Report

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Fri, 24 Jun 2022 Source: www.ghanaweb.com

Government imposes 1.5% tax on all electronic transfer

31% of respondents make between 1 to 5 transfers a week, Report

Research focuses on impact of E-Levy on Ghanaians

IMANI Digital Financial Services Research Project has shown that 8 out of 10 Ghanaians have changed their behaviour towards the electronic transfer of money since the implementation of E-Levy.

According to a myjoyonline.com report, the research focused on the effect of the 1.5% tax on all electronic transfers and how government will rake in money from this E-Levy.

The research also looked at how often people use digital financial services accounts, especially mobile money.

“To assess the impact of the e-levy on the use of digital financial services, we first assessed how often people use digital financial services accounts (such as mobile money) in a typical week and then asked further questions on how it has affected the volume of mobile money transactions they make,” the IMANI report stated as quoted by myjoyonline.

The report also noted that 83% of the respondents were compelled to look for other alternatives to send money to escape from the electronic transfer charges imposed on all transactions by government.

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It further highlighted that about 31% of respondents make between 1 to 5 transfers a week.

Goverment imposed a 1.5% charge on all electronic transfers above GH¢100.

The tax policy is a move by the goverment to widen the country's tax net.

Meanwhile, the charging entities for the E-Levy are telecommunications companies, commercial banks, special deposit-taking institutions and Payment Service Providers (PSPs).

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Below is the report.

Source: www.ghanaweb.com
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