The Ghana Revenue Authority (GRA) is the Ghana administration charged with the task of assessing, collecting, and accounting for tax revenue in Ghana.
The Authority appears to be laying the groundwork for the yet-to-be-approved Electronic Transfer Levy’s implementation (E-Levy).
The government would deduct 1.75 percent tax on various electronic financial transactions by residents, according to a tax plan currently before Parliament.
Moreover, Since the government presented its 2022 Budget statement to the House last year, the E-Levy has been a source of contention.
The move, according to the Finance Ministry, will raise the country’s tax-to-GDP ratio from 13 percent to a target of 16 percent or more, bringing in $6.9 billion in revenue.
The Minority, on the other hand, claims that the 1.75 percent tax is a tool to intensify the plight of ordinary Ghanaians, who have already been affected by the Covid-19 pandemic.
GRA will be inviting officials from ARB Apex Bank to collaborate with its technical team, according to a letter signed by the Commissioner-General of GRA, Rev. Dr Ammishaddai Owusu-Asamoah.
As a result, GRA has urged ARB Apex Bank to prepare for Bill’s enactment. The monitoring platform will be implemented in three (3) phases, according to the report. This will allow the GRA to properly account for the new tax in its revenue collection system.
The Authority added that it is “currently developing a monitoring platform for the full implementation of the e-levy and would be inviting you to collaborate with its Technical Team in this respect.”