The Ghana Revenue Authority (GRA) has named the entities responsible for deducting the Electronic Transfer Levy (E-Levy) which is expected to take off from 1st May, 2022.
According to the Authority, Electronic Money Issuers such as MTN, Vodafone Cash, AirtelTigo, Zeepay, and G-Money, Payment Service Providers (PSPs) such as E-transact, Banks [Charges applicable on the digital system], and the Specialised Deposit-Taking Institutions (SDIs) Eg: Rural and Community Banks have been tasked to deduct the yet to be implemented E-Levy.
The Head of Compliance, Domestic Tax Revenue Unit at the Ghana Revenue Authority (GRA), Victor Yao Akogo, who announced this to Joy News explained that the above-mentioned entities designated to make such deductions are prepping themselves to ensure that the new tax policy is implemented smoothly.
He explained that the aforementioned entities will serve as an intermediary.
He added that the institutions, after the deductions, will transfer the funds to the consolidated account of the GRA within 24 hours.
“Once the funds are deducted by the charging entities, we require that within 24 hours, they remit that amount to the Bank of Ghana electronically,” he explained.
– BY Daniel Bampoe