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GRA makes u-turn on transaction not to be affected by E-Levy

3 years ago
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GRA makes u-turn on transaction not to be affected by E-Levy

Electronic transfers between “own accounts” will now attract the 1.5% E-Levy charge.

This is according to the statutory tax collection body, the Ghana Revenue Authority (GRA).

Previously, electronic transactions between accounts owned by the same person was not supposed to attract the 1.5% charge.

The new decision by the GRA per a press release on the guidelines for processing E-Levy refunds by charging entities dated April 29, 2022, is due to the lack of visibility across all networks due to the phased approach to the implementation of the levy.

“Under this phased approach it has been decided that all “on-net” and “off-net” transfers including transfers to “own accounts” shall be subject to the E-Levy,” said the GRA.

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The following transactions that will not attract the E-Levy charges per the GRA;

  • A cumulative transfer of GHS 100 made by the same person.
  • A transfer between accounts owned by the same person [now excluded].
  • Transfers for the payment of taxes, fees and charges on the Ghana.gov platform
  • Electronic clearing of cheques
  • Specified merchant payments (that is, payments to commercial establishments registered with the GRA for income tax and VAT purposes)
  • Transfers between principal, master agent, and agent’s accounts.

Transactions that are to attract E-Levy charges include;

  • Mobile money transfers done between accounts on the same Electronic Money Issuer.
  • Mobile money transfer to a receiver on another Electronic Money Issuer [Interoperability transfer]
  • Transfer from a 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 paid digital platform.

The implementation of the E-Levy in a phased approach kick-started Sunday, May 1, 2022.

Tags: 1.5% E-Levy chargegraGRA makes u-turn on transaction not to be affected by E-Levy
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