Ghana Revenue Authority (GRA) has made a significant announcement. It was April 2, 2025, a day that would mark a pivotal moment in Ghana’s financial landscape. Apexnewsgh reports
Following a long-awaited legislative decision, President John D. Mahama had officially assented to the Electronic Transfer Levy Act, 2022 (Act 1075) and its subsequent amendment, the Electronic Transfer Levy (Amendment) Act, 2022 (Act 1089). The news spread quickly: the 1% Electronic Transfer Levy, commonly known as the E-Levy, had been abolished.
The announcement came in a formal statement from the GRA, addressing all charging entities and emphasizing the immediate impact of this change. “The abolishment of the E-Levy is expected to take effect from today, April 2, 2025,” the statement proclaimed, stirring a wave of relief among citizens and businesses alike who had long felt the burden of the levy on digital transactions.
With the sun just rising over the horizon, the GRA provided clear instructions for the charging entities that facilitated electronic transactions. “In accordance with our previous communication regarding implementation guidelines, this letter serves as formal authorization for you to proceed with the deployment of the ‘no charge’ configuration on your platforms,” it declared, signaling a new era of financial freedom for users.
The guidelines laid out by the GRA were straightforward yet crucial for the transition. First, they announced that the GRA Electronic Transfer Levy Management and Assurance System (ELMAS) would automatically apply a “no charge” to all transactions processed from that very midnight. It was a simple yet powerful move designed to ensure a seamless switch to a levy-free system.
As the clock struck midnight, charging entities were instructed to halt the application of the 1% E-Levy across all their channels, marking the end of a contentious chapter in Ghana’s e-commerce history. Furthermore, businesses were reminded of their responsibility to their customers: they were to process immediate refunds for any E-Levy amounts recently deducted, ensuring that every transaction honored the new regulations.
“The entities must establish an expedited refund process for these cases and maintain proper documentation of all refunds processed,” the GRA stated. They stressed the importance of submitting comprehensive reports detailing these refunds to ensure transparency and compliance.
With the dawn of a new day, the GRA’s directive not only heralded a freedom from the E-Levy but also set forth a commitment to uphold fairness and integrity in the financial dealings of the nation. As citizens began to feel the effects of this monumental change, many looked hopeful towards a brighter financial future, empowered by the new policies that promised to ease the burden of digital transactions.
Source: Apexnewsgh.com
