The Ghana Revenue Authority (GRA) has assured the people of a smooth implementation of the Electronic Transactions Tax (E-levy).
The Authority, in a press release, indicated that it had held “several technical sessions and engagements with the various billing entities (issuers of electronic money, banks, payment service providers and specialized deposit institutions) on the implementation implementation of electronic tax, with the objective of ensuring that charging entities are able to implement direct debit at maturity.
This implies that the implementation of the levy will effectively start on May 1, 2022.
In recognition of the near implementation date and assurance of the GRA, Ghanaians flooded Twitter with comments and questions about the tax.
They remember what is to come, ie the imposition of a 1.5% tax on electronic transactions over 100 GH¢.
Although the E-levy bill has been signed into law, some users still disagree with its implementation.
Others are simply shocked that the long-awaited day is closer than ever.
Here’s everything you need to know about E-direct debit
Electronic transactions that will not be accompanied by a tax rate of 1.5%.
- A cumulative transfer of 100¢ made by the same person.
- Transfer between accounts belonging to the same person.
- Transfers for the payment of taxes, duties and fees on the Ghana.gov platform
- Electronic Check Clearing
- Specified merchant payments (i.e. payments to commercial establishments registered with the GRA for income tax and VAT purposes)
- Transfers between principal, principal agent and agent accounts.
Transfers that will be affected include:
- Mobile money transfers made between accounts on the same e-money issuer.
- Mobile money transfer to a recipient on another e-money issuer [Interoperability transfer]
- Transfer from bank account to [another person’s] mobile money account.
- From a mobile money account to [another person’s] Bank account.
- Bank transfers on an instant pay digital platform.