The Electronic Transfer Levy (E-Levy) has been officially abolished, and the Ghana Revenue Authority (GRA) has issued a directive for all businesses and financial institutions to stop charging the 1% levy from midnight, April 2, 2025. Additionally, businesses are required to refund any deductions made after this date and settle outstanding payments collected before the abolition.
In its official communique, the GRA outlined the following key instructions:
1️⃣ No More Charges: The Electronic Transfer Levy Management and Assurance System (ELMAS) will automatically return a “no charge” response for all transactions from midnight, preventing further deductions.
2️⃣ Stop Applying E-Levy: All banks, mobile money operators, and other charging entities must immediately cease applying the 1% levy across their platforms.
3️⃣ Refunds Required: Any E-Levy deductions made on or after April 2, 2025, must be refunded. Charging Entities are required to:
Set up a fast-track refund process to handle affected customers.
Keep detailed records of all refunds processed.
Submit reports on refunds to the GRA for monitoring.
4️⃣ Settle Outstanding Payments: All E-Levy amounts collected before April 2, 2025, must be properly accounted for and paid to the GRA.
read the full letter here 👇
The GRA has urged full compliance with these directives to ensure a smooth transition following the levy’s removal.
