The Ghana Revenue Authority (GRA) is preparing to collect the proposed 1.75% electronic levy (E-levy) on mobile money transactions, bank transfers, and inward remittances when approved by Parliament.
A letter from the GRA has directed partners such as the ARB Apex Bank to trigger processes awaiting the passage of the controversial bill.
The letter signed by Commissioner-General Ammishaddai Owusu-Amoah, on January 31, 2022, explained that “While we await the passage of the bill, I wish to inform you to hold yourself in readiness for the implementation of the By in three (3) phases as soon as the Bill is passed into law” and the execution of the taxation will be undertaken in three phases.
This is to enable the GRA to adequately factor the new tax into its revenue collection regime.
It added that it [GRA] is “currently developing a monitoring platform for the full implementation of the e-levy and would be inviting you to collaborate with its Technical Team in this respect.”
Meanwhile, President Nana Addo Dankwa Akufo-Addo is optimistic that the government will pass the E-levy bill despite opposing views from Ghanaians.
E-Levy, he said is the only way for the government to pay for the free water and free electricity enjoyed during the peak of the COVID-19 pandemic.
“Revenues during 2020/2021 went down considerably because of the slowing down of the economic activities that came from the COVID-19. At the same time, government, in order to keep the country going, did incur some expenditures on the free water, the free electricity. These were the unavoidable expenses that the government had to make,” he said when he addressed traditional leaders from Dzodze in the Volta region on Tuesday, February 1, 2022.
