Now that the E-levy has been implemented, the Ghana Revenue Authority (GRA) has asked all charging firms to remedy any improper deductions. The contentious electronic levy went into effect today, Sunday, May 1, 2022. A 1.5 percent fee will be applied to money transferred between mobile money and bank accounts.
The GRA has developed administrative guidelines to ensure the success of the E-levy.
“Following the Ghana Revenue Authority’s assessment of selected Charging Entities’ overall readiness to link to the E-levy Management System,” the GRA said in a statement.
The Authority also urged all charging entities to correct any incorrect deductions as soon as possible.
The estimated annual e-levy has been decreased to GHS4.5 billion. Ghanaians’ uneasiness about the levy, according to the GRA, is to blame for the lower projection.
The 1.5 percent decrease is also being considered, according to GRA Commissioner-General Reverend Dr Ammisshaddai Owusu-Amoah.
Dr. Owusu-Amoah said that an internal GRA survey predicted that electronic transactions would first slow down before picking up.
He projected that after people were used to the levy, transactions will level out. He urged people to think about the convenience that digital transactions provide, highlighting the government’s many exemptions.
He also urged individuals to pay the levy in order to contribute to the nation’s development.