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GRA to engage Finance Ministry over some key anomalies in E-Levy
The Ghana Revenue Authority (GRA) has revealed it will engage the Finance Ministry to resolve key anomalies in the Electronic Transactions Levy (E-levy), which could significantly impact some Ghanaians when the tax is implemented.
A Principal Revenue Officer and Head of the Project Management Unit for GRA, Isaac Kobina Amoako, admitted that salaries paid through mobile money will attract E-levy, even though the salary would have already been taxed.
He explained that the current framework created by the law, as it stands, does not distinguish a corporate mobile money account and an individual mobile money account.
Mr Amoako added that potential challenges that may accompany this situation have come to the attention of the Authority; hence, all such concerns will be forwarded to the Finance Ministry with the hopes of having them addressed.
“That is something that has come to our attention; we’ve referred it to our superiors to look at it. But, for now, the law seems to have captured everybody, including disbursements from corporate mobile accounts. In fact, for the banks, the disbursements from corporate accounts were not mentioned, so it is clear that that is exempt.
“But in the MoMo, there was no distinction between a corporate MoMo account and individual MoMo account; so, that is where we’ve received some kind of feedback from the public that it will affect salaries, loan disbursements, and so many other things, which we’ve referred to the [Finance] Ministry,” he said.
The Authority, however, explained the scope of exemptions and how persons who transfer monies between their accounts can avoid being taxed.
In an interview on JoyNews’ The Probe, Sunday, the Head of Compliance at the Domestic Tax Unit, Victor Yao Akogo, said a cumulative transfer of ¢100 per day made by the same person will not attract E-Levy.
“A transfer between accounts owned by the same person; I have a Fidelity account, and I transfer money to my GCB account where I am doing the transfer, E-Levy will not apply. If I transfer to my Ecobank account, my Prudential bank account and my CBG account, E-Levy will not apply.
“We have a unique identifier, the Ghana Card, and that is what we are going to use. There are some people who have used their passport to register their account; we are saying that for you to qualify for the exemption.
“So there is the need to let your Ghana Card be linked to all your accounts so that it will be the unique identifier of you everywhere so that you can enjoy the exemption,” he stated.
Following the passage of the Electronic Transfer Law, the GRA has indicated its readiness to implement it from May 1.
Source: www.myjoyonline.com
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
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Prophet Courage Heavens set to launch ‘Predestination’ book on March 23
Prophet Courage A. Heavens is set to launch the much-awaited book titled ‘Predestination’ on Sunday, March 23, 2025 at 5:00PM.
The launch, which is expected to impact lives, will take place at Crossgates Ministries, Flattop, off N1 Highway, opposite Angel Hauz.
The book is aimed at addressing the way people struggle to understand how free will and destiny align.
It is also aimed at providing clarity on God’s sovereignty and one’s place in His divine plan.
The various chapters of the book address various issues through scriptures and personal stories.
Committed to impacting society, part of the proceeds from the book will go into Courage Heavens Education Legacy (CHEL), an educational foundation transforming lives.
CHEL is dedicated to providing financial support and mentorship to brilliant but needy students, ensuring they have access to quality education and opportunities for a better future.
Prophet Courage Heavens is a prolific writer and previously authored Eli Eli Lama Sabachthani, a powerful book that encourages unwavering faith in times of trials.
In addition, he has written seven more prophetic and life-changing books that are yet to be published.
He is dedicated to raising the next generation for impactful ministry. As the leader of Crossgates Ministries, he nurtures believers in faith and purpose.
