Business News of Wednesday, 8 June 2022
Source: www.ghanaweb.live
2022-06-08Electronic clearing of cheques does not attract E-Levy – GRA
E-Levy was implemented on May 1
Government imposes 1.5% tax on all electronic transfers
E-Levy to widen country's tax net
GRA holds stakeholder sensitization workshops in Accra, Kumasi
Electronic clearing of cheques does not attract the Electronic Transfer Levy (E-Levy), the Ghana Revenue Authority has said.
Meanwhile, the revenue arm of government is holding stakeholder
Read full articlesensitization workshops on E-Levy in Accra and Kumasi.
It noted that the purpose of the workshop is to educate people on the tax law for Ghanaians to be abreast of how the law operates.
In a tweet sighted by GhanaWeb, GRA said, "Our aim is to break down the tax law so that we all understand and know what the levy applies to and what it doesn't apply to."
"Note! Electronic clearing of cheques does not attract E-Levy," it pointed out.
It would be recalled that the Finance Minister, Ken Ofori-Atta, on Tuesday, March 29, 2022, moved the motion for the passage of the E-Levy bill at a revised rate of 1.5% in Parliament.
The 1.5% levy is being charged on all electronic transfers above GH¢100.
The tax policy is a move by the government to widen the country's tax net.
Government commenced the implementation of the E-Levy on May 1, 2022, despite widespread condemnation of the tax policy.
Meanwhile, the charging entities for the E-Levy are telecommunications companies, commercial banks, special deposit-taking institutions and Payment Service Providers (PSPs).
Read GRA's tweet below;
