As Ghanaians brace themselves for the Electronic Transfer Levy (E-Levy) to be implemented next month, the Ghana Revenue Authority (GRA) has outlined 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.
The Head of Compliance, Domestic Tax Revenue Unit at the Ghana Revenue Authority (GRA), Victor Yao Akogo on JoyNews’ The Probe listed them as follows;
- 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 said;
- 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.
