The Ghana Revenue Authority (GRA) has highlighted the entities responsible for deducting the yet-to-be-implemented Electronic Transfer Levy (E-Levy).
According to the Authority, as of May 1, fast approaches, and the entities designated to make such deductions are prepping themselves to ensure that the new tax policy is implemented smoothly.
A Head of Compliance, Domestic Tax Revenue Unit at the Ghana Revenue Authority (GRA), Victor Yao Akogo, on JoyNews’ The Probe, listed them as follows;
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- Electronic Money Issuers such as MTN, Vodafone Cash, AirtelTigo, Zeepay, and G-Money.
- Payment Service Providers (PSPs) such as E-transact.
- Banks [Charges applicable on the digital system]
- The Specialised Deposit-Taking Institutions (SDIs) Eg: Rural and Community Banks
Throwing more light on the topic, a Principal Revenue Officer and Head of the Project Management Unit said the Authority said the aforementioned entities will serve as an intermediary.
According to Isaac Kobina Amoako, the institutions, after the deduction, will transfer the funds to the consolidated account of the GRA within 24 hours.
“Once the funds are deducted by the charging entities, we require that within 24 hours, they remit that amount to the Bank of Ghana electronically,” he explained.