The Ghana Revenue Authority (GRA) has outlined a number of new e-levy charges after the full implementation on a common platform commenced.
The Authority had earlier announced that it was preparing a common platform that will capture all transactions to allow for e-levy deductions. Prior to the full implementation on a common platform, customers were allowed to enjoy some exemptions per wallet, per account in the phase one implementation of the tax.
For instance, a customer with two different accounts was able to enjoy some exemptions if they send GH₵100 twice using different accounts to other people.
With the full implementation on the common platform, there would be no exemption of charges per wallet, per account transactions.
PUBLIC NOTICE: Commencement of the 2nd Phase of implementation of the E-Levy begins today. Click the link to read the full announcement. https://t.co/gomtlNH5EV pic.twitter.com/E44DypJw26
— GRA (@GhanaRevenue) July 1, 2022
A member of the e-levy implementation committee, Isaac Amoako, has been explaining to JoyNews some of the new charges.
- “Once the common platform is operating functionally and fully when you send the first ₵100 that is granted, you realise in the phase one the exemption was being enjoyed per wallet, per account so if you have two wallets you basically enjoy ₵200 per day. With the common platform, you will only enjoy ₵100 you will not enjoy ₵200.
- “The second one which will excite them is that now when you send to a number or an account you own and you have updated both numbers with the Ghana card then you do not get to pay charges, if you have not done that you will be charged.
- “Those who operate as merchants, by merchant that means they receive payment for goods and services through one of these payment services providers. Now there is a third leg we are implementing which was not implemented during the first phase. Now, if the merchant is not registered with the GRA for income tax or VAT, then your customers are going to suffer e-levy.”
The Ghana Revenue Authority, while announcing the implementation of the e-levy, said the operationalisation of the levy from May 1 will be in a modified-phased approach.
This follows the results of an assessment carried out by the GRA to test the general readiness of some charging entities to integrate with the E-Levy management system.
Meanwhile, the Finance Ministry has disclosed that government will not terminate the 1.5% levy on electronic transactions, despite its application to the International Monetary Fund (IMF) for economic assistance.
This was contained in a statement from the Ministry on Tuesday, addressing key questions regarding government’s ongoing engagement with the Fund.
Regarding the controversial levy, the Ministry explained that government will add the proceeds from the levy to the support from the IMF to salvage the economy.
Addressing the question of whether the levy will be scrapped, the Ministry said, “NO. The IMF lending to Ghana will be for balance of payments support (i.e. to shore up the international reserves).
“Government is committed to ensuring the smooth operationalisation of all taxes including the e-levy to ensure that in addition to the IMF’s resources, 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%.”