GRA: Implementation Of E-levy Commences On May 1

The Ghana Revenue Authority (GRA) has confirmed the commencement of the implementation of the Electronic Transfers levy (E-levy) on May 1, 2022.

“The Commissioner-General of the Ghana Revenue Authority (GRA) wishes to inform the general public that following the passage of the Electronic Transfer Levy Act 2022 (Act 1075) implementation of the Levy commences on 1st May 2022.”

An electronic Transfer levy of 1.50% is imposed on electronic transfers, effective next month.

The levy is charged on an electronic transfer at the time of the transfer, the GRA said.

The Levy applies to Mobile money transfers done between accounts on the same electronic money issuer, Mobile money transfers from an account on one electronic money issuer to a recipient on another electronic money issuer, and Transfers from bank accounts to mobile money accounts.

It also applies to Transfers from mobile money accounts to bank accounts and Bank transfers on an instant pay digital platform or application originating from a bank account belonging to an individual subject to a daily threshold to be determined by the Minister of Finance.

The Charging Entities are Electronic Money Issuers, Payment Service Providers, Banks, Specialised Deposit-Taking Institutions, and Other Financial Institutions prescribed by Regulations made under the Act.

Source: opemsuo.com/Hajara Fuseini