GRA rakes GH¢1 million for one day under a single E-Levy Charging Entity

GRA adopts modified phased approach to collect E-Levy

GRA already making significant gains for E-Levy – Head of Project Unit

The revenue arm of government, the GRA has revealed collections from a single charging entity under the Electronic Transfer Levy amounted to more than GH¢1 million in one day.

According to the Authority’s Head of Project Unit, Isaac Kwabena Amoako, said the implementation of the tax measure is already raking in some significant revenue for Ghana.

Providing some updates on the E-Levy in an interaction with Accra-based JoyFM, Amoako said collections under the E-Levy are rather encouraging thus far.

“The letters we sent to the charging entities were that, after every 48 hours, they should send us the Money. So, our first Money should have come on Tuesday, but it didn’t come then we went to Wednesday and we saw some making attempts. So, on Thursday, we went on our internal system [the Tax Application System] and we saw the invoices and we collated the invoices,” he is quoted by myjoyonline.com

“As of the close of Thursday, we had had the invoice of a number of charging entities and one of the charging entities which owns more than 70% of the population had in excess of GH¢1million for just one day. So, assuming all the others are not paying and this entity alone sends GH¢1million every day for 30 days. This means we are getting GH₵30million per month from just one charging entity,” Amoako explained.

The implementation of the E-Levy commenced from May 1. The levy imposes a 1.50 percent charge on some electronic transactions above GH¢100 on a daily basis.

So far, the rollout of the tax policy has been met with some challenges with consumers complaining about being charged unlawfully but the GRA has assured that these anomalies will be rectified.

Meanwhile, the Charging Entities for the E-Levy are telecommunications companies, commercial banks, special deposit taking institutions and Payment Service Providers (PSPs).

The Ghana Revenue Authority has also set a one-month deadline to fully roll out the Electronic Transfer Levy by June 30, 2022 after it adopted a modified phased approach.