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May 18th , 2024

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EMPLOYEES WHO RECEIVE SALARY VIA MOBILE MONEY TO PAY E-LEVY- GRA

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Employees who get paid through mobile money platforms should be aware of the possibilities. This is because a percentage of their finances will be affected by the recently passed E-Levy. According to the Ghana Revenue Authority (GRA), the problematic law's architecture demands the tax's inclusion in the revenue collection process. The GRA has stated that it will be ready to execute the Electronic Transfer Law on May 1st, following its passage. The 1.50 percent tax will be withdrawn from government coffers if salaries are paid from bank accounts onto mobile money platforms, according to a Principal Revenue Officer and Head of the Authority's Project Management Unit. During a discussion on The Probe to debunk the new tax, Isaac Kobina Amoako disclosed this. According to the official, the current legal framework makes no distinction between a corporate and a personal mobile money account. "Disbursements from corporate accounts were not reported to the banks, so that one is clearly excluded," Emefa Apawu said, "but there was no distinction in the momo between the corporate and individual momo accounts." He went on to say that this would have an impact on loan payments and other financial operations. According to Mr Amoako, these matters will be forwarded to the Finance Ministry for resolution. He feels the GRA has been informed of the potential problems that could occur as a result of this situation. This information was obtained from myjoyonline.com.

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