News Guide Africa

Tag: E-Levy

  • Telecoms scrap E-levy ….following govt, directive

    Telecom operators halt E-Levy charges, boosting digital transactions.

     

    Adnan Adams Mohammed

     

    Telecommunication Operators in Ghana have been directed by the Ghana Revenue Authority to cease collection of the Electronic Transfer Levy (E-Levy) effective April 2, 2025.

     

    This comes as President John Dramani Mahama assented to the Electronic Transfer Levy Act, 2022 (Act 1075) and the Electronic Transfer Levy (Amendment) Act, 2022 (Act 1089) bill, which abolishes the 1% E-levy.

     

    However, MTN Ghana, a major player in the industry, initially claimed that it could not stop the E-Levy collection for fear of breaching Bank of Ghana’s regulations explaining, the process must go through regulatory approval. Although, it has since stopped charging the levy having received the requisite regulatory directive and has made the necessary refunds in line with the demands of the Ghana Revenue Authority.

     

    “There is a process that has to be followed. I can’t abolish E-Levy until I’m told to do it. If I do it ahead of time, the Bank of Ghana will catch me,” the CEO, Stephen Blewett said while speaking at MTN House in Accra, on Wednesday, April 2, last week. He emphasized that while the government had signaled its intention to remove the levy, telecom operators like MTN must follow official directives before making changes.

     

    More importantly, Blewett also highlighted the negative impact of the E-Levy on mobile money transactions and expressed optimism that its removal would revitalize the sector.

     

    “The reason for the abolishment of E-Levy is to encourage momentum in mobile money,” he explained.

     

    He acknowledged that the tax removal is expected to boost digital transactions and financial inclusion.

     

    “We will follow the process. And once it’s gone, mobile money will regain its strength.”

     

    The E-Levy, initially introduced at 1.75% before being reduced to 1%, taxed electronic transactions, including mobile money payments, bank transfers, and inward remittances. Since its introduction in 2022, it has faced widespread criticism, with opponents arguing that it imposed an additional financial burden on citizens and discouraged digital transactions.

     

    GRA, in it directive communicated the following guidelines, thus:

     

    1. The GRA Electronic Transfer Levy Management and Assurance System (ELMAS) will automatically return a “no charge” on all transactions posted to it by entities from midnight.

     

    2. Charging Entities must cease applying the 1% E-Levy from midnight on all their channels.

     

    3. Charging Entities must immediately process refunds for any E-Levy amounts deducted from customers effective today, 2nd April 2025. Entities are to establish an expedited refund process to handle such cases promptly and maintain proper documentation of all refunds processed. Reports of such refunds must be submitted to GRA.

     

    4. Charging Entities are to take the necessary steps to file and pay all outstanding E- Levy charged and collected on all transactions that occurred before 2nd April 2025.

     

    5. For effective reconciliation and in accordance with Section 33A of the Revenue Administration Act, 2016 (Act 915) as amended, entities must continue to post all electronic transfer transactions to ELMAS until further directives are provided.

     

    6. All entities must maintain electronic transfer records for at least six (6) years as stipulated in Section 27(3) of the Revenue Administration Act, 2016 (Act 915).

     

    “Please be informed that failure to comply with the above directives constitutes an offence and sanctions will be imposed as prescribed by law,” GRA admonished, cautioning it “will conduct regular compliance checks to ensure adherence to these directives”, the statement signed by Edward Apenteng Gyamerah, Commissioner, Domestic Tax Revenue Division (GRA), noted.

     

    Consequently, the Association of Ghana Industries (AGI) has welcomed the removal of the 1% E-Levy, stating that it will boost digital financial transactions and reduce the cost of doing business in Ghana.Ghanaian fashion

     

    The CEO of AGI, Seth Twum Akwaboah, commended the government for its decision, highlighting its positive impact on businesses, especially small and medium enterprises (SMEs).

     

    Seventy-five percent of our members are SMEs, and for them, digital transactions are essential. Any additional cost discourages their use. The removal of the levy will not only cut costs but also encourage more businesses to embrace digital financial services and electronic money transfers.

     

    “It’s a commitment the President made, and now that it has been fulfilled, we look forward to seeing its impact on business growth”, the CEO of AGI said.

     

    Also, Ing. Dr. Kenneth Ashigbey, CEO of the Ghana Chamber of Telecommunications, stressed the broader economic benefits of eliminating the E-Levy.

     

    “With this removal, we expect an increase in both the volume and value of digital transactions. This growth will boost profitability for financial institutions, leading to higher corporate tax revenues for the government, “he noted.

     

    He added: “Additionally, more digital transactions will reduce the cost of printing physical currency, benefiting the Bank of Ghana. It will also generate valuable data for policymakers to enhance fiscal and monetary strategies,”

     

    Ing. Dr. Ashigbey also noted that the removal of the E-Levy aligns with the government’s financial inclusion strategy, fostering a more digitized economy while easing financial burdens on businesses and consumers alike.

     

     

  • Don’t be in a haste to scrap e-levy, COVID levy – ISSER to gov’t

    E-levy

     

    The Institute of Statistical, Social, and Economic Research (ISSER) has recommended against an immediate repeal of the E-levy and COVID-19 levy, cautioning that a sudden removal could disrupt the nation’s ongoing IMF-backed economic recovery plan.

     

    In its recent State of the Ghanaian Economy Report, ISSER proposed a phased elimination of these levies as part of the 2025 budget to avoid undermining fiscal stability.

     

    Together, the E-levy and COVID-19 levy are projected to generate over GH¢5 billion in revenue, with GH¢2.1 billion from the E-levy and GH¢3.172 billion from the COVID-19 levy.

     

    “Scrap E-levy (GH¢2.1bn), COVID-19 Levy (GH¢3.172bn), Betting Tax – What is the alternative?” the report questions, urging policymakers to carefully evaluate the timing and impact of eliminating these revenue streams, which are essential for meeting Ghana’s IMF program obligations.

     

     

    ISSER’s stance reflects a nuanced approach to balancing public relief with fiscal discipline. In the current economic climate—marked by inflationary pressures and a depreciating currency—these levies are seen as critical sources of revenue.

     

    The report emphasises that any reduction should be aligned with broader fiscal policies to sustain economic stability.

     

    The report also pointed to the Betting Tax, suggesting it could be developed as an alternative revenue source, though its specifics remain undefined.

     

    ISSER advises the government to explore such options to create a sustainable revenue framework that eventually replaces the E-levy and COVID-19 levy without jeopardising IMF commitments.

     

  • E-levy collections amounted to GH¢1.19bn in 2023 

    E-levy

     

     

    Adnan Adams Mohammed

     

    The Electronic Transactions levy (E-levy) collections for the year 2023 stood at GH¢1.19 billion.

     

    This reflects remarkable increase in the collections compared to the previous year’s collection of GH¢106.79million, although, the 2022 collections was affected by other factors.

     

    However, the revenue line witnessed a decline at the beginning of 2023 due to a reduction in its rate from 1.5 percent to 1 percent. During the first quarter of 2023, the E-levy generated GH¢246.9million. Implementation of E-levy took effect on 1 May 2022. The E-levy charge covers mobile money payments, bank transfers, merchant payments, and inward remittances (Ghana Revenue Authority, 2022).

     

    “Last year, E-levy generated GH¢1.19 billion and as part of dealing with the job situation… unemployment situation, the government has committed funds through YouStart from this E-levy sources…to GEA and NEIP to address the unemployment situation in the country”, Dr. John Kumah, Deputy Minister of Finance, revealed last week.

     

    “I am happy to announce that institutions like Wealth and Jobs Expo and all private groups that are willing to help create jobs in the private sector will also be supported to help create jobs and businesses in the private sector.”

     

    The Ghana Statistical Service last week announced that about 1.5 million Ghanaian youth are unemployed.

     

    Dr. John Kumah in response to the latest figures from the Ghana Statistical Service on the unemployment indicated that, to help ameliorate the situation, government allocated funds from the E-levy collection to the YouStart Programme, the Ghana Enterprise Agency, and the National Entrepreneurship and Innovation Programme to combat unemployment in the country.

     

    He further highlighted the government’s efforts in attracting investments into the country while spurring job creation, emphasizing the need for belief in entrepreneurship to address the unemployment rate.

     

    “In the medium term, the government aims to intensify efforts to attract domestic investments and FDIs [Foreign Direct Investments] in strategic centres with emphasis on creating jobs anchored on the government’s growth strategy. The strategy is projected to contribute to the creation of approximately 500,000 jobs.

     

    “We are not saying 1.5 million [unemployed youth], every one of them should create jobs. No. Even if we get it, we get 10% of them, it’s 150,000 who will become entrepreneurs. If they do an average of let’s say 100 jobs….150,000 x 100, you have almost solved the unemployment problem,” the Deputy Minister of Finance added.

     

     

     

  • Reducing rate of E-levy to expand the economy.. stakeholders share ideas

    Reducing rate of E-levy to expand the economy.. stakeholders share ideas

    Adnan Adams Mohammed

    Many stakeholders  have called on the government to reduce drastically the rate of the Electionic Transactions Levy (E-Levy).

    The newest voice is the Chief Executive Officer of the Ghana Telecommunications Chamber who wants the rate to be reduced from 1.5% to 0.1%.

    Many economists and tech industry players see the introduction of the e-levy at 1.5% as counterproductive to both the government and the development of Ghana’s digital economy. The E-Levy, introduced in the 2022 Budget has performed poorly, raking in just about 10% of the expected revenue three months after its implementation. The levy, which was originally pegged at 1.75% was reduced to 1.5 percent after public agitations against the policy, stakeholders wants the rate reduced further.

    “Calling for a total scrap of the tax measure would be insensitive considering the government’s dire need for money amidst an economic turmoil, reducing it to 0.1% would revamp the digital economy thus generating more revenue for government”, Dr. Ken Ashigbey shared during a TV interview last week.

    “Our proposition is the fact that, you know, they should scrap it. But we need to be real, government needs money at this particular stage. The deficit position is not good for industry, it affects industry, it’s one of the things that would account for the depreciation of the cedi. The macros would be destabilized.

    “So we think that the best thing to do is to reduce the level. Some in the industry have talked about 0.5, but I have said that the best thing to do is to do 0.1.”

    Sharing his expectations, the Director of the Institute of Statistical, Social and Economic Research (ISSER) of the University of Ghana advised government to use the 2023 Budget as a big opportunity to correct the policy by reducing the rate significantly to encourage the public to pay the tax.

    He maintained that the budget gives government a unique chance to rebuild confidence in Ghanaians, by listening to the public through a reduction in the e-levy.

    “E-levy can be made better. It can be made more efficient. Let us reduce the rate to 0.5% and I am sure we can raise a lot of revenue,” Prof. Peter Quartey has said in Accra, last week, during a pre-budget discussion.

    Also, the President of the Association of Ghana Industries (AGI), Dr. Humphrey Ayim-Darke also called for a reduction of E-levy to cushion the operations of businesses.

    He stated that the levy in its current state imposes extra burden on businesses, already struggling with the current economic conditions in the country.

    “The E-levy must be reduced”, he said, explaining that businesses and consumers will always find legal means to avoid taxes if it increases their economic hardship.

    “We think one place that can be improved is the VAT system. We must block the loopholes in our VAT system and not introduce new taxes like e-levy that is not working” he said.

    Dr. Ayim-Darke also called on the Finance Minister to reduce taxes on raw materials for industry.

    He stated that such a policy will strengthen the operations of local industries to be globally competitive.

    Dr. Ken Ashigbey added that, while the government reduces the rate, they should also place a cap on it.

    He explained that, transactions that are 5,000 cedis and above should only attract a fixed e-levy rate to attract more large transactions on mobile money platforms.

    According to him, the current cap-less system makes it most undesirable to transact business with large sums of money via digital platforms.

    “You know, push the level down to 0.1 and then put a cap on it. Say 5,000 cedis. At 5,000 cedis the levy is fixed so that if anybody wants to send 10,000 cedis, you know, that will happen,” he said.

    “Take out the discrimination between the 20,000 that you give to the banks and then you give to mobile money so that the discrimination is not based on that,” he added

    On the other hand, Dr. Ashigbey is calling on the government to place a cap on the amount of cash that can be used in a transaction.

    According to him, when physical transactions are capped at 2,000 cedis for instance, people will be forced to transact business via mobile money platforms for large transactions.

    “Another innovative thing that we would say is that put a cap on any transaction that can be done by cash, so let’s say 2,000 cedis. If you want to do any transaction above 2,000 cedis use a digital means for mobile money, for the banks and all of that.

    “What will happen is that a lot of the things that happen underground… a lot of that you’ll be able to take them off and then you’ll be able to see a lot of movement in terms of cash and that also will help,” he said.

    “And then in terms of government payments, make sure that all government payments mandatorily are made simple and let people be able to pay so that tolls that people pay in the market and all that will use these digital means. And if you’re going to do that make sure that it is seamless, it’s not difficult to do,” he added.         

    Giving some more recommendations, Prof. Quartey stated that government can improve tax collection by bringing back road toll to improve revenue mobilisation.

    He pointed out that road toll is one of the most effective ways to collect and account for taxes.

    “I think that we can properly digitise road tolls through public-private partnership to make the collection of taxes effective. I think government must consider bringing the road tolls back”, he said.

  • Ghanaians call for massive reduction in e-levy rate

    Ghanaians call for massive reduction in e-levy rate

    Section of Ghanaians have called for a massive reduction in the rate of the Electronic Transaction Levy (E-levy) to encourage willingness to pay.

    Sharing his expectations, the Director of the Institute of Statistical, Social and Economic Research (ISSER) of the University of Ghana advised government to use the 2023 Budget as a big opportunity to correct the policy by reducing the rate significantly to encourage the public to pay the tax.

    He maintained that the budget gives government a unique chance to rebuild confidence in Ghanaians, by listening to the public through a reduction in the e-levy.

    “E-levy can be made better. It can be made more efficient. Let us reduce the rate to 0.5% and I am sure we can raise a lot of revenue,” Prof. Peter Quartey has said in Accra, last week, during a pre-budget discussion.

    The E-Levy, which was introduced in the 2022 Budget has performed poorly, raking in just about 10% of the expected revenue three months after its implementation. The levy, which was originally pegged at 1.75% was reduced to 1.5 percent after public agitations against the policy.

    Giving some more recommendations, Prof. Quartey stated that government can improve tax collection by bringing back road toll to improve revenue mobilisation.

    He pointed out that road toll is one of the most effective ways to collect and account for taxes.

    “I think that we can properly digitise road tolls through public-private partnership to make the collection of taxes effective. I think government must consider bringing the road tolls back”, he said.

    Also, the President of the Association of Ghana Industries (AGI), Dr. Humphrey Ayim-Darke also called for a reduction of E-levy to cushion the operations of businesses.

    He stated that the levy in its current state imposes extra burden on businesses, already struggling with the current economic conditions in the country.

    “The E-levy must be reduced”, he said, explaining that businesses and consumers will always find legal means to avoid taxes if it increases their economic hardship.

    “We think one place that can be improved is the VAT system. We must block the loopholes in our VAT system and not introduce new taxes like e-levy that is not working” he said.

    Dr. Ayim-Darke also called on the Finance Minister to reduce taxes on raw materials for industry.

    He stated that such a policy will strengthen the operations of local industries to be globally competitive.

  • 91% Ghanaians lack confident in judicious use of E-Levy funds – report

    91% Ghanaians lack confident in judicious use of E-Levy funds – report

    Adnan Adams Mohammed

    Ghanaians have registered their lack of trust in the government and fears the 1.5 per cent currently being charged on Electronic transactions (E-levy) will be used to fund development projects across the country an Afrobarometer Report has revealed.

    The survey report released by CDD-Ghana shows, out of the total sample size, only 9 percent of Ghanaians are confident that the government will use revenue from the E-levy to fund development. This means, about 91% Ghanaians have no confident in the government when it comes to judicious utilisation of tax monies.

    Amidst the high lack of no confident and on the issue of transparency, key stakeholders in the telecommunication space have advocated the rollout of measures and strategies that will inform people of how their taxes are being used.

    “I think it is fair to ask that if we’ve decided that we are taking this tax for a particular purpose, we are able to go back and see if it is being used for that particular purpose. For me, as a corporate governance student, I think that transparency and providing information, by the people who are in positions of responsibility is important”, Chief Executive Officer of the Ghana Chamber of Telecommunications, Dr. Ing. Kenneth Ashigbey, noted in a radio discussion last week.

    “And I don’t think we do enough of that. It is something we need to do constantly if we want to take out all the clouds and perceptions of suspicion. If we could even have a website that customers can go to find out with regards to how much is coming in and what the funds are being used for, it will be helpful,” he added.

    According to the Afrobarometer report, 51% of Ghanaians do not think government will invest the proceeds generated from the E-levy into development projects.  The report indicates that 24% of Ghanaians are not very confident that the revenue generated from the E-levy will be used for its intended purpose, while 15 per cent are somewhat confident that government will indeed use the accrued revenue for its purpose.

    Also, 47% of Ghanaians despite the charges on electronic transactions say they will continue to use electronic financial transactions.

    However, the report further indicated that, 49% of Ghanaians have disclosed that the E-levy will make them avoid or stop using electronic financial transactions.

  • Gabby’s E-Levy tweet: mind-game on Ghanaians for IMF program

    Gabby’s E-Levy tweet: mind-game on Ghanaians for IMF program

    Adnan Adams Mohammed

    A tweet of Gabby Okyere Darko, widely circulated on social media make a revelation that the Electronic Transaction Levy (E-levy) has so far generated only 10 percent revenue.

    The controversial E-Levy which was implemented in April has since generated only 10% of the targeted about GHC5.4 billion revenue for the year.

    Before the ‘schemed’ parliamentary approval of the most rejected tax policy in the fourth republic of Ghana’s democratic governance, some economists had advised the government to consider relief from the International Monetary Fund (IMF), but, the government ‘stubbornly’ refused to listen. So some policy analysts and journalists have described Gabby’s tweet as a mind game on Ghanaians to pave way for the government to announce an intent of going to the IMF since revenues are low.

    “After 5 months of stalemate and bashing, the e-levy, after implementation, is delivering only 10% of estimated revenues”, Gabby Okyere Darko’s, as in the most cases described as ‘De-facto president or Prime minister’ by social commentators, tweet captured. “Our revenues remain low as compared to the rest of the world; debt levels dangerously high, cedi, like most currencies, struggling against the US dollar.”

    A journalist with the Economy Times and www.newsguideafrica, Adnan Adams Mohammed, described the tweet as a mind-game on Ghanaians.

    He asserts that at this juncture government’s last resort is for IMF program to restore investors’ confidence as the government’s debt issuance both foreign and domestic has been receiving a poor response for past months as the dollar keeps bullying the cedi.

  • Fiscal deficit to widen further.. as gov’t plans to pay COLA to teachers 

    Fiscal deficit to widen further.. as gov’t plans to pay COLA to teachers 

    Adnan Adams Mohammed

    The government through the Fair Wages and Salaries Commission has planned to meet all stakeholders entitled to the 20 percent Cost of Living Allowance (COLA) demanded by teachers to determine the payment terms.

    Teacher unions including NAGRAT, GNAT, and others have given a June 30th deadline for the government to pay the allowance or face a series of industrial actions.

    According to NAGRAT, the current economic hardship has made teachers worse off, hence the demand for allowances to be paid. But the Fair Wages and Salaries Commission maintains that all relevant stakeholders must come on board for a final determination of the payment. If the government pays the 20% demanded by the teachers, it is likely to widen the fiscal deficit further and also miss the fiscal deficit target of 7.4 percent of Gross Domestic Product, (GDP) end year. But the government has banked it hopes on the collection of the Electronic Transaction Levy (E-Levy) which is estimated to rake in close to GHC5billion at the end of 2022.

    “It’s fair that stakeholders are able to propose the payment of COLA or any other allowance, but at the end of the day, we have to get to the table with organized labor, government and all other parties to determine whether COLA will be paid”, said Earl Ankrah, Head of Public Affairs at the Commission. “We are also yet to negotiate the base pay for 2023 so that it is factored into the budget. That is yet to be done to determine the minimum daily wage.”

    Already, Fitch Solutions is forecasting the country’s fiscal deficit to GDP ratio in 2022 at 9.8%. This is in line with the International Monetary Fund (IMF) forecast of 9.8% for this year, but far wider than the government’s target of 7.4% of GDP.

    “Looking into Ghana’s fiscal position following increased spending on health and household support due to COVID-19 pandemic, Ghana’s fiscal deficit widen to an estimated to 11.3% in 2021. This is well above historical level” said the Risk Analyst at Fitch Solutions, Ben Weaver.

    The International Monetary Fund in its April 2022 Fiscal Monitor Report, projected Ghana’s tax revenue to GDP ratio to increase in 2022 to 16.5%, from 14.7% in 2021. This will be a vast improvement compared to the rates registered during the last 10 years.  

    In 2023 and 2024, the country’s tax-to-GDP ratio will however fall to 16% and 16.2% respectively, it added.

    The Fund also said government expenditure will decline to 25.2% of GDP in 2022, from 26.3% recorded in 2021. This is expected to put the fiscal deficit to GDP ratio at 9.8%.

    However, in 2023 and 2024, the Fund is forecasting expenditure-to-GDP ratios of 25.2% and 23.9% respectively.

    Meanwhile, Vice President of NAGRAT, Jacob Annaba, explains that the ultimatum comes on the back of current economic conditions and the worsening plight of teachers, as well as the government’s failure to negotiate.

    “The President had earlier said, and I quote, “we (government) know how to bring the economy back to life. What we do not know is how to bring people back to life”. The question is what has changed? Mr. President, your people (workers) are dying; please attend to them now and do not prioritize the economy over the human resources. The worker can no longer bear the economic hardship.”

    The leadership of NAGRAT noted they would be pushed to embark on an industrial action if their demands are not met.

    “We, therefore, demand that, as a matter of urgency, the Government must grant workers a Cost Of Living Allowance (COLA) of 20% at the end of June 2022. Leadership would be left with no option than to declare a strike by the end of July 2022, if all the requests made are not adhered to. Leadership hereby yields to the demand of members for positive action, beginning with the wearing of red bands by the end of June 2022, if the demands made are not met”, he added.

  • Exclude salary payments via MoMo from E-Levy – Telcos

    Exclude salary payments via MoMo from E-Levy – Telcos

    The Ghana Chamber of Telecommunications has called for a review of portions of the Electronic Transfer Levy (E-Levy) law to exclude the 1.5% charge on payment of salaries made via mobile money.

    According to the chamber, per the current law, salaries that are paid via mobile money would attract the 1.5% charge, whereas salaries paid through banks will not attract any E-levy. They described such move as discriminatory.

    The levy is a 1.5% tax on electronic transfers that include but not limited to, mobile money transfers done between accounts on the same network, mobile money transfers from an account on one network to a recipient on another network, transfers from bank accounts to mobile money accounts, and transfers from mobile money accounts to bank accounts. The charge will apply to electronic transfers that are more than GH¢100 on a daily basis.

    “Some of the challenges we have seen with the law, as has been passed, which we hope to take up, are a few discriminatory elements within what’s happening. For example, if your salary is paid from a bank account, it won’t attract the E-Levy, but if you are paid with mobile money, then it will attract the E-Levy. That definitely is not equitable and is discriminatory”, the Chief Executive Officer of the Chamber, Dr. Kenneth Ashigbey,said in an interview last week.

    “We hope that going forward, such issues will be addressed. We know that one of the elements of a good tax is that it should not be discriminatory, especially due to the channels that one uses. All of these are things we will be working on with government to ensure that the unintended consequences do not come and derail government’s own digitalization agenda that it’s put up,” he added.

  • E-Levy implementation: Telcos doubt meeting deadline to reconfigure their system before May

    E-Levy implementation: Telcos doubt meeting deadline to reconfigure their system before May

    Adnan Adams Mohammed

    Telecommunication operators in the country are in doubt over meeting the deadline to configure their systems to allow the smooth implementation of the Electronic Transactions Levy (E-Levy).

    The controversial E-Levy passed by parliament and assented into law by President, Nana Akufo Addo, late last month, is scheduled to take effect next month, May 2022. So the telecomm companies have within a period of one month to reconfigure their system to support the deduction of the tax on the transfers of funds in between mobile money wallets.  

    Although the telcos have assured to do their best to ensure the required systems are put in place to collect the E-levy, they say, the right infrastructure must be put in place, and tested to ensure that they are fit for purpose before going live.

    “I can’t say whether one month will be enough time for all of those systems [necessary] because if there are major variations that have been made, we’ll need to see whether all the things we were looking at, at the beginning could be done within months”, the Chief Executive of the Chamber of Telecommunications, Ing. Dr. Kenneth Ashigbey, said in an interview.

    “From our side, we will do whatever is possible. This is about money, and we don’t want a system where there will be a backlash on it. We need to make sure that we can do the integration with the GRA’s systems and do the user acceptance test and validation to make sure everything is well before we go live. We also know that Parliament has passed the law, and we need to work at that, but those considerations of the practicality of all of that have to be done.”

    After President Akufo-Addo assented into the E-levy bill last week, the various stakeholders are under pressure to put in place all the necessary infrastructure to ensure full implementation of the law.

    Dr. Ashigbey in an earlier interview said the full details of the bill are yet to be presented to the Chamber for studies, and it will only be after that, that they will decide and make public how they will implement the tax.

    “It was only preparatory engagements that were being done and not as if anybody is implementing anything. What Parliament passed is what becomes law. In terms of the engagements we had with GRA, that was the spirit of the fact that the Bill was before Parliament. Since we had those initial conversations, there hasn’t been any implementation.”

    “I have not seen the bill that has been passed, so we have not seen the date in there, so it will depend on what the GRA directs for our members to follow and configure their systems. So, there is still a lot to be done, and we are still waiting”, he said.