Electronic Money Transactions Levy: Banks, Financial Institutions and Electronic Money Issuer Guide.
The Finance Act, 2022 amended the National Payment Systems Act, 2015 (NPSA) and introduced a levy on electronic money transaction (the Levy). The amendment came along with the National Payment Systems (Electronic Money Transaction Levy) Regulations, 2022 (EMTL Regulations). The EMTL Regulations prescribe the manner and modality for collection and accounting for the Levy. There […]
