E-levy implementation starts in May

The government expects systems that will pave the way for the implementation of the electronic transfer levy also known as E-Levy, which was approved by Parliament on Tuesday, to be ready from May 2022.

According to the Finance Minister, Ken Ofori-Atta, there have been discussions with the Controller and Accountant General’s Department and the Ghana Revenue Authority in this regard for a smooth take-off.

“We had some meetings with the Controller and Accountant General’s Department (CAGD) and the Ghana Revenue Authority (GRA) and they have said at the beginning of May they should be able to put their system together,” Mr. Ofori-Atta told journalists in Parliament after the presentation of the message on the State of the Nation by President Akufo-Addo.

The flagship tax legislation is set to rope in more people into the tax bracket after a boycott by the opposition lawmakers.

The E-Levy, which was first pegged at 1.75% in the 2022 Budget Statement and Economic Policy of the Government presented to the House in November last year, was passed at 1.5% with Speaker Alban S.K. Bagbin in the chair, after he returned from a medical leave.