Full implementation of E-Levy starts today, GRA says

Statutory tax collection body, the Ghana Revenue Authority (GRA), has noted that the full implementation of the electronic transactions levy (E-Levy) will commence today, July 1, 2022.

In a statement by the statutory tax collection body, all charging entities are expected to integrate into the Authority’s Electronic Levy Management and Assurance System (ELMAS) before June 28, 2022.

With the Authority cautioning that, failure on the part of the charging entities to integrate into the ELMAS will attract sanctions under the Revenue Administration Act of 2016, Act 915.

The full roll out of the levy, is believed to be on the back of government’s failure to generate the required revenue from the levy within the first two months of its implementation

According to Gabby Otchere-Darko, approximately some GHS 60m in revenue is what has been generated so far from the controversial electronic transaction levy (E-Levy) which is expected to rake in for government a total revenue amount of GHS 4.5bn.

In a series of tweets, Mr. Otchere-Darko said the E-Levy, since its implementation has generated less than GHS 60 million [10%] instead of the expected GHS 600 million.

“After 5 months of stalemate and bashing, the e-levy, after implementation, is delivering only 10% of estimated revenues; our revenues remain very low as compared to the rest of the world; debt levels dangerously high, cedi, like most currencies, struggling against the US dollar,” he tweeted.

Read GRA’s statement below:

Source: norvanreports