Home Business GOODNEWS |GRA FINALLY Releases OFFICIAL List, Detailing Transfers That Will Not Attract...

GOODNEWS |GRA FINALLY Releases OFFICIAL List, Detailing Transfers That Will Not Attract The 1.5% E-LEVY Charge[READ]

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The Electronic Transfer Levy, known as E-Levy, is set to be implemented next month 1 May 2022, thus the Ghana Revenue Authority (GRA) has outlined the transactions that will not be affected by the new tax policy.

According to the Authority, as sighted by wildLEAKx, although the tax policy is to broaden the tax net, not all electronic transactions will come with a 1.5% tax rate.

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Speaking on JoyNews’ Current Affairs show dubbed ‘The Probe’.

Head of Compliance, Domestic Tax Revenue Unit at GRA, Mr. Victor Yao Akogo listed transfers that will not be taxed as follows;

A cumulative transfer of ¢100 is made by the same person.

A transfer between accounts owned by the same person.

Transfers for the payment of taxes, fees, and charges on the Ghana.gov platform

Electronic clearing of cheques

Specified merchant payments (that is, payments to commercial establishments registered with the GRA for income tax and VAT purposes).

Transfers between the principal, master agent, and agent’s accounts.

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