In a decisive move aimed at streamlining financial transactions, the President has assented to both the Electronic Transfer Levy Act, 2022 (Act 1075) and its Amendment (Act 1089), formally abolishing the 1% Electronic Transfer Levy (E-Levy). The Ghana Revenue Authority (GRA) confirmed that the new legislation takes effect at midnight, requiring all charging entities to adjust their systems immediately.
Under the new guidelines, the GRA’s Electronic Transfer Levy Management and Assurance System (ELMAS) will automatically process all transactions without levying a charge. In addition, charging entities are directed to cease applying the 1% levy on all platforms and to initiate prompt refunds for any deductions already made. These refunds must be documented and reported to the GRA as part of an expedited process.
Furthermore, the directive mandates that any outstanding E-Levy amounts collected prior to midnight today be filed and paid in accordance with regulatory requirements. Electronic transfer records must continue to be maintained on EL-MAS for a minimum of six years, as stipulated by the amended Revenue Administration Act, 2016 (Act 915).
The GRA warned that non-compliance with these directives will lead to sanctions under the law. Charging entities requiring further clarification have been advised to contact the E-Levy Technical Support Team at elevysupport@gra.gov.gh.
