The electronic money transfer levy introduced by the Finance Act applies at:
A₦50 on transfers of ₦10,000 and aboveCORRECT
B₦100 on all transfers
C0.5% of the amount transferred
D₦50 on transfers of ₦1,000 and above
ICANTaxationStamp Duties and Other Taxes2025
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Why the answer is A, and why the others tempt you.
The levy is a single charge of ₦50 on electronic transfers of money in any deposit account for sums of ₦10,000 or more. It replaced the earlier stamp duty charge on bank receipts.
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