The Ghana Revenue Authority (GRA) has officially announced the abolition of the 1% Electronic Transfer Levy, popularly known as E-Levy.
The directive was contained in a statement issued by the GRA following President John Dramani Mahama’s assent to the bill that approved the scrapping of the Electronic Transfer Levy Act, 2022 (Act 1075) and its Amendment Act, 2022 (Act 1089) earlier today.
With immediate effect from midnight, April 2, 2025, all financial institutions and payment platforms are instructed to cease applying the levy and swiftly process refunds for any deductions made beyond this date, the GRA announced.
The directive which was issued by Edward Apenteng Gyamerah, Commissioner of the Domestic Tax Revenue Division, on behalf of the Commissioner-General, indicated that all Charging Entities must reconfigure their systems to reflect a “no charge” on transactions.
“The GRA Electronic Transfer Levy Management and Assurance System (ELMAS) will automatically return a ‘no charge’ on all transactions posted to it by entities from midnight,” the directive said.
The GRA warned that entities that fail to comply with the directive or fail to refund customers will face sanctions in accordance with the law.
“Charging Entities must immediately process refunds for any E-Levy amounts deducted from customers effective today, April 2, 2025.
Entities are to establish an expedited refund process and maintain proper documentation of all refunds processed,” the statement added.
The GRA further directed all Charging Entities to submit detailed reports of refunds processed to the GRA.
“Charging Entities are to take the necessary steps to file and pay all outstanding E-Levy charged and collected on all transactions that occurred before April 2, 2025,” the directive warned.
“Failure to comply with the above directives constitutes an offence, and sanctions will be imposed as prescribed by law,” the statement said.
Additionally, all Charging Entities are required to maintain electronic transfer records for at least six years, as mandated by Section 27(3) of the Revenue Administration Act, 2016 (Act 915).
By: Rainbowradioonline.com/Ghana
