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Telecoms sight difficulty in meeting May 1 deadline for e-levy implementation

3 years ago
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Telecoms sight difficulty in meeting May 1 deadline for e-levy implementation

Telecommunication operators have sighted some difficulties in fully meeting the May 1 deadline for the e-levy.

This comes on the back of the announcement made by the Ghana Revenue Authority that structures have been put in place to fully start the implementation of the e-levy.

But according to the Chief Executive of the Telecommunications Chamber, Ken Ashigbey, there are issues that needs to be addressed before they can start the collection.

He added that, even with those issues, they will do their possible best to ensure that they are able to meet the May 1 deadline.

“Prior to the passing of the bill, we were working with the understanding that we are going to start off with per wallet basis, but then with the passing of the law, the ministers informed us that we are going the full hawk, so the issue of the waiver on the GHS 100 will be per person.

“First of May is tight, but we are all working to ensure that we are able to meet the timelines as has been set by the policy makers, and our whole approach to this is that we all need to work together. There’s some work that the GRA would have to do and then what we also have to do,” he said.

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Meanwhile, Head of Compliance, Domestic Tax Revenue Unit at the Ghana Revenue Authority (GRA), Victor Yao Akogo, has listed entities responsible for deducting the yet-to-be-implemented Electronic Transfer Levy (E-Levy) on electronic transactions.

According to Mr Yao Akogo, entities designated to make the E-Levy deductions are prepping themselves to ensure that the new tax policy is implemented smoothly on May 1, 2022.

Speaking in an interview on Sunday, Mr Yao Akogo listed the entities as follows;

  • 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]
  • The Specialised Deposit-Taking Institutions (SDIs) Eg: Rural and Community Banks

Throwing more light on the topic, a Principal Revenue Officer and Head of the Project Management Unit said the Authority, Isaac Kobina Amoako, said the aforementioned entities will serve as intermediaries.

According to him, the institutions, after the deduction, 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 stated.

list of transfers that will not attract E-Levy charges

  • A cumulative transfer of GHS 100 made by the same person.
  • A transfer between accounts owned by the same person.
  • 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.

list of transfers that will attract E-Levy charges

  • 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.

Tags: ghanaGhana Revenue AuthorityTelecoms sight difficulty in meeting May 1 deadline for e-levy implementation

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