The Ghana Revenue Authority (GRA) has detailed some new e-levy fees after the completion of the shared platform. To support e-levy deductions, the authority had previously said that it was putting together a uniform platform that would record all transactions.
Customers were given some exemptions per wallet, per account in the first phase of the tax deployment before it was fully implemented on a shared platform.
Mr. Isaac Amoako, a member of the e-levy implementation committee, explained to JoyNews some of the new fees.
For instance, a consumer with two accounts was able to receive some relief if they sent GHC100 twice to different recipients using different accounts. There will be no exemption from charges per wallet, per account transactions with the complete implementation on the single platform.
The second thing that he thought was thrilling is the fact that one could now send money to a phone number or account without any charges, but first, they must have updated both with the Ghana card, otherwise, they will pay the charges involved.
He further stated that those who got paid for their goods and services through one of the service providers, such as merchants, who had not registered with the Ghana Revenue Authority (GRA) for income tax or Value Added Tax (VAT), will have their customers paying for e-levy.
The Ghana Revenue Authority stated that the operationalization of the levy from May 1 will be done in a modified-phased method when announcing the implementation of the e-levy.
This is in response to the findings of a test by the GRA to see if particular charging organizations were generally prepared to integrate with the E-Levy management system.
The E-Levy Will not be Scrapped
Despite applying to the International Monetary Fund (IMF) for financial aid, the government has stated that it will not remove the 1.5 % surcharge on electronic transactions, according to the Finance Ministry. This information was provided in a statement released by the Ministry on Tuesday in response to important inquiries about the government’s ongoing involvement with the Fund.
Regarding the contentious tax, the Ministry clarified that the government would supplement its assistance from the IMF with tax revenue to save the economy.
The Ministry responded “NO.” when asked if the fee would be eliminated. “Government is committed to ensuring the smooth operationalization of all taxes including the e-levy to ensure that in addition to the IMF’s resources, the government can continue to support its developmental goals on its own while ensuring that tax-to-GPD ratio increases to the peer range of 16%-18%.
The IMF lending to Ghana will be for the balance of payments support (i.e., to shore up the international reserves)”, the statement explained.
Priscilla Fumadorh
Priscilla is an entrepreneur and a creative communicator who loves to communicate through writing. She is passionate about national economic issues and does not miss a chance to offer her opinions on them for the good of the country.
I’m very pleased to find this page. I need to to thank you for ones time for this particularly fantastic read!! I definitely loved every part of it and I have you book-marked to check out new stuff in your blog.
Thank you so much, Ardell. Your patronage means a lot to us.