GRA cracks down on E-Levy compliance: Strict monitoring and record-keeping mandated

The Ghana Revenue Authority (GRA) has issued a stern directive to all financial institutions and electronic money operators, emphasizing strict compliance monitoring and record-keeping in the wake of the abolition of the 1% Electronic Transfer Levy (E-Levy).

With the Electronic Transfer Levy Act, 2022 (Act 1075) and its Amendment Act, 2022 (Act 1089) now fully in effect as of April 2, 2025, the GRA has made it clear that all charging entities must cease applying the levy immediately and implement rigorous refund processes for any deductions that may have been made after the law took effect.

In a statement signed by Edward Apenteng Gyamerah, Commissioner of the Domestic Tax Revenue Division, the GRA has warned that failure to comply with the new directives will result in sanctions as prescribed by law.

To ensure smooth enforcement of the new regulations, the Electronic Transfer Levy Management and Assurance System (ELMAS) has been reconfigured to automatically return a “no charge” response on all transactions. Charging entities must immediately adhere to the following key mandates:

1. Immediate Halt on E-Levy Deductions – All financial institutions and mobile money platforms must cease charging the 1% levy from midnight on April 2, 2025 across all their channels.
2. Mandatory Refunds for Customers – Any E-Levy deductions made after April 2 must be refunded promptly, with entities required to establish an expedited refund process and maintain proper documentation of all refunds processed. Reports of these refunds must be submitted to the GRA.
3. Settlement of Outstanding E-Levy Payments – Charging entities must file and pay all outstanding E-Levy charges collected before April 2 to avoid penalties.
4. Continued Transaction Reporting to ELMAS – Despite the abolition of the E-Levy, all electronic transfer transactions must still be reported to the GRA system (ELMAS) until further notice, as mandated by Section 33A of the Revenue Administration Act, 2016 (Act 915).
5. Mandatory Six-Year Record-Keeping – All entities involved in electronic transactions must maintain detailed electronic transfer records for at least six years, in line with Section 27(3) of the Revenue Administration Act.

To ensure full adherence, the GRA has announced that regular compliance checks will be conducted across all electronic transfer platforms.

Any failure to comply with these new directives will be treated as an offence, with offending entities facing sanctions in accordance with the law.

With this strict enforcement, the GRA is making it clear that while the E-Levy may be gone, compliance, transparency, and accountability remain paramount in Ghana’s evolving financial landscape.