Now that the E-levy has been implemented, the Ghana Revenue Authority (GRA) has directed all charging companies to remedy any improper deductions.
The contentious electronic levy went into effect today, Sunday, May 1, 2022. Money transferred between mobile money and bank accounts will incur a 1.5 percent fee.
To that end, the GRA has created administrative requirements to ensure the success of the E-levy.
The GRA announced in a statement, “Following the Ghana Revenue Authority’s examination of selected charging entities’ general readiness to interface with the E-levy Management System.”
The authority also urged all charging entities to correct any incorrect deductions as soon as possible.
The annual e-levy forecast has been decreased to GHS4.5 billion. The reduced projection is attributed to Ghanaians’ concern over the levy, according to the GRA.
The GRA’s Commissioner-General, Reverend Dr Ammisshaddai Owusu-Amoah, told the Daily Graphic that the 1.5 percent cut is also being considered.
Dr. Owusu-Amoah stated that an internal GRA poll indicated that electronic transactions would lag at first before catching up.
He projected that once people become accustomed to the levy, transactions will level out. He urged the public to consider the convenience provided by digital transactions, citing the government’s numerous exemptions.
He also encouraged individuals to pay the charge in order to contribute to nation-building.