- Advertisement -

GRA to engage Finance Ministry over some key anomalies in E-Levy

- Advertisement -

The Ghana Revenue Authority (GRA) has revealed it will engage the Finance Ministry to resolve key anomalies in the Electronic Transactions Levy (E-levy) law, which could significantly impact some subscribers when the tax is implemented.

A Principal Revenue Officer and Head of the Project Management Unit for GRA, Isaac Kobina Amoako, admitted that salaries paid through mobile money will attract E-levy, even though the salary would have already been taxed.

He explained that the current framework created by the law, as it stands, does not distinguish a corporate mobile money account and an individual mobile money account.

Mr Amoako added that potential challenges that may accompany this situation have come to the attention of the Authority; hence, all such concerns will be forwarded to the Finance Ministry with the hopes of having them addressed.

“That is something that has come to our attention; we’ve referred it to our superiors to look at it. But, for now, the law seems to have captured everybody, including disbursements from corporate mobile accounts. In fact, for the banks, the disbursements from corporate accounts were not mentioned, so it is clear that, that is exempt.

“But in the MoMo, there was no distinction between a corporate MoMo account and individual MoMo account; so, that is where we’ve received some kind of feedback from the public that it will affect salaries, loan disbursements, and so many other things, which we’ve referred to the [Finance] Ministry,” he said.

The Authority, however, explained the scope of exemptions and how persons who transfer monies between their accounts can avoid being taxed.

In an interview on JoyNews’ The Probe, Sunday, the Head of Compliance at the Domestic Tax Unit, Victor Yao Akogo, said a cumulative transfer of ¢100 per day made by the same person will not attract E-Levy.

“A transfer between accounts owned by the same person; I have a Fidelity account, and I transfer money to my GCB account where I am doing the transfer, E-Levy will not apply. If I transfer to my Ecobank account, my Prudential bank account and my CBG account, E-Levy will not apply.

“We have a unique identifier, the Ghana Card, and that is what we are going to use.

“So there is the need to let your Ghana Card be linked to all your accounts so that it will be the unique identifier of you everywhere so that you can enjoy the exemption,” he stated.

Following the passage of the Electronic Transfer Law, the GRA has indicated its readiness to implement it from May 1.

Source: myjoyonline.com

- Advertisement -


- Advertisement -


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related news

- Advertisement -