The Commissioner-General of Ghana Revenue Authority (GRA), Reverend Dr. Ammisshaddai Owusu-Amoah, has said that an amount of GHc4.5 billion target would be generated from the Electronic Transfer Levy (E-Levy) by the end of this year instead of the initial GHc6.9 billion target.
This however comes after the downward review of the Levy from 1.75% to 1.5%.
According to him in an interview with Daily Graphic, businesses won’t go on faster just after the implementation if the Levy but will rather take some time to pick up.
Again, he said “the Authority and the three charging entities – the banks and specialised deposit-taking institutions (DFIs), the electronic money issuers (EMIs) and the telecommunications companies (telcos) – have put in place the relevant system and mechanisms for the public to start paying 1.5 per cent of the levy on daily electronic transfers above GHc100 effective Sunday, May 1, 2022.”
One could recall on March 29 this year, the Finance Minister Ken Ofori-Atta on the floor of parliament, moved the motion for the passage of the controversial E-Levy at a revised rate of 1.5%.
It is however said to take effect on May 1, 2022.