After nearly three months of back and forth including controversies among Parliamentarians and the general public, the E-Levy Bill was finally passed by Majority-sided Parliament on Tuesday, March 29 amid a Minority walkout.
As Ghanaians awaiting the Electronic Transfer Levy (E-Levy) to be implemented next month, the “Ghana Revenue Authority” (GRA) has come out to outline the transactions that will not be affected by the new tax policy.
According to the Authority, although the tax policy is to broaden the tax net, not all electronic transactions will come with a 1.5% tax rate.
In an interview on JoyNews’ Probe, Victor Yao Akogo, the Head of Compliance, Domestic Tax Revenue Unit at the Ghana Revenue Authority (GRA), listed transactions that will not be affected by e-levy;
- A cumulative transfer of ¢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.
For the transfers that will be affected; a Principal Revenue Officer and Head of the Project Management Unit said the Authority, Isaac Kobina Amoako also said;
- Mobile money transfers done between accounts on the same Electronic Money Issuer.
- Mobile money transfers 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.
Source:Frencheducation.com