GRA directs banks and telcos to stop 1% tax on MoMo and transfers

The Ghana Revenue Authority (GRA) has instructed all charging entities to stop deducting 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 1089.

The directive, which took effect on Tuesday, April 2, 2025, formally abolishes the levy.

In a notice issued by the Office of the Commissioner of the Domestic Tax Revenue Division, the GRA stated that the Electronic Transfer Levy Management and Assurance System (ELMAS) would automatically apply a “no charge” policy to all transactions from midnight onwards.

“All charging entities must cease applying the 1% E-Levy from midnight on all their channels,” the statement read.

The GRA also instructed charging entities to begin refunding any E-Levy deductions made after the abolition took effect.

It stressed that a structured refund process must be followed, with records of all reimbursements submitted to the GRA.

Additionally, the notice reminded charging entities to file and settle all outstanding E-Levy collections made before April 2, 2025.