The Ghana Revenue Authority (GRA) has mandated that all entities handling Electronic Transfer Levy (E-Levy) transactions reconfigure their systems to eliminate the levy, effective immediately. This directive comes after President John Dramani Mahama’s assent on April 2, 2025, to legislation that repeals the E-Levy, along with other taxes including the Betting Tax and Emissions Tax.

In an official announcement, the GRA informed stakeholders that the Electronic Transfer Levy Act of 2022 (Act 1075) and its amendment (Act 1089) had been signed into law, nullifying the 1% levy. As of April 2, 2025, all E-Levy charges are to be suspended.

The GRA’s communication outlined specific actions for affected entities:

1. System Update: The GRA’s Electronic Transfer Levy Management and Assurance System (ELMAS) will automatically reflect a “no charge” status for all transactions starting from midnight.
2. Cessation of Charges: Entities are instructed to cease applying the 1% levy across all transaction channels starting from the same time.
3. Refund Process: Entities must immediately process refunds for any E-Levy amounts deducted from customers on or after April 2, 2025. They are also required to establish a streamlined refund procedure and maintain comprehensive records of all refunds, submitting regular reports to the GRA.
4. Outstanding Payments: Entities must address any outstanding E-Levy amounts collected on transactions before April 2, 2025, ensuring that all dues are filed and paid.
5. Record-Keeping: As mandated by Section 33A of the Revenue Administration Act of 2016, all electronic transfer transactions must continue to be posted to ELMAS for reconciliation purposes, until further instructions are issued.
6. Retention of Records: Entities must retain electronic transfer records for a minimum of six years in compliance with Section 27(3) of the same law.

The GRA emphasized that non-compliance with these directives will be considered an offense, subject to penalties under existing regulations. The authority also stated that regular compliance checks will be conducted to ensure adherence to the new requirements.

For technical assistance, the GRA has directed entities to contact the E-Levy Technical Support Team via elevysupport@gra.gov.gh.

Source:TheDotNews