The Ghana Revenue Authority (GRA) has identified the entities in charge of deducting the yet-to-be-implemented Electronic Transfer Levy (E-Levy).
According to the Authority, as May 1 fast approaches, and the institutions designated to make such deductions are preparing to guarantee that the new tax policy is implemented successfully.
On JoyNews’ The Probe, Victor Yao Akogo, Head of Compliance, Domestic Tax Revenue Unit of the Ghana Revenue Authority (GRA), identified them as follows:
- 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
In order to shed additional light on the situation, a Principal Revenue Officer and Head of the Project Management Unit stated that the Authority has stated that the aforementioned firms would act as an intermediary.
According to Isaac Kobina Amoako, the institutions would deposit the monies to the GRA’s consolidated account within 24 hours of the deduction.
“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.
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SOURCE: myjoyonline
