Following the start of the full implementation on a single platform, the Ghana Revenue Authority (GRA) has detailed a number of additional e-levy fees.
The Authority had previously declared that it was setting up a uniform platform that would record every transaction and enable e-levy deductions. Customers might take advantage of some exclusions per wallet, per account in the tax’s phase one deployment prior to the full adoption on a shared platform.
For instance, a customer with two accounts could benefit from several exemptions if they sent GHC 100 twice to different recipients using distinct accounts.
There would be no exemption from fees for wallet- and account-specific transactions with full platform deployment.
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 operationalization 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%.”