The Ghana Revenue Authority (GRA) has issued a firm directive to all charging entities, including banks, fintech companies, and mobile money operators, to cease Electronic Transactions Levy (E-Levy) deductions immediately.
This follows President John Dramani Mahama’s recent repeal of the controversial levy, which was officially signed into law earlier this week.
In a notice, the (GRA) statred; with the E-Levy officially scrapped, mobile money and electronic transaction users should no longer see any deductions related to the tax.
The GRA has assured the public that any wrongful deductions made after the repeal date must be fully refunded.
To get the refund, users must monitor their transactions that is to check their MoMo, bank, and fintech app statements for any wrongful deductions.
And must report to your service provider If deductions persist, contact your bank or MoMo provider for a refund request.
Also, escalate complaints to GRA if unresolved, customers can file complaints via the GRA helpline or regional offices.
To ensure full compliance, the GRA has warned that any institution found deducting E-Levy after the repeal will face strict penalties.
The authority has set up a monitoring task force to track compliance and ensure prompt refunds where necessary.
There will be financial sanctions and potential fines for institutions that fail to stop deductions and possible legal action against persistent offenders.
Affected customers will be entitled to compensation for wrongful deductions.
Telecom and banking sectors have responded positively, with leading mobile money operators MTN, Telecel, and AirtelTigo confirming system updates to immediately halt E-Levy charges.
Fintech companies and payment platforms have also reassured customers that transactions will now be processed without the 1% E-Levy charge.
The GRA has urged the public to report any continued deductions, promising swift action to resolve complaints.
Officials will also engage financial institutions to ensure a smooth transition from the E-Levy framework.
By: J.W Quarm
