The downward review of the revenue target from the Electronic Transactions levy (E-Levy) to GH¢4.5 billion in line with developments following the proposal of the levy in November last year is one of the trending stories in the Ghanaian press on Friday.
The Graphic reports that the government has cut the revenue target from the Electronic Transactions levy (E-Levy) to GH¢4.5 billion in line with developments following the proposal of the levy in November last year.
The Commissioner-General of GRA, Reverend Dr Ammisshaddai Owusu-Amoah, told Graphic Online Thursday that the revision followed the reduction in the rate from 1.75 per cent to 1.5 per cent, the delay in implementing the levy and the negative sentiments that heralded the proposal of the levy last year.
Dr Owusu-Amoah added that GRA’s internal survey had indicated that electronic transactions would slowdown in the first days of the levy’s implementation before picking up.
He was, however, optimistic that transactions would stabilise in the medium term as people get used to the levy.
He said the various exemptions provided by the government were boosters to the usage of electronic transactions and thus urged the public to look at the convenience provided by digital transactions.
He also called on the public to take the levy as one of their little contributions to nation building.
The levy was initially programmed to take off in February and would have covered all electronic transactions, including bank transfers.
The newspaper says that all is set for the Electronic Transactions Levy (E-Levy) to take off on Sunday, as scheduled.
The Ghana Revenue Authority (GRA) and the three charging entities – banks and specialised deposit-taking institutions (DFIs), electronic money issuers (EMIs) and telecommunications companies (telcos) – have put in place the relevant systems and mechanisms to start collecting 1.5 per cent as levy on daily electronic transfers.
This means that from Sunday, all electronic transfers that are done in a day and above GH¢100 will attract a 1.5 per cent per cent levy to be remitted to the GRA to support the government to fund development.
Smooth takeoff
The Commissioner-General of the GRA, Rev. Dr Ammisshaddai Owusu-Amoah; the Chief Executive Officer (CEO) of the Ghana Chamber of Telecommunications, Dr Kenneth Ashigbey, and the CEO of the Ghana Association of Bankers (GAB), John Awuah, told the Daily Graphic in separate interviews yesterday that they expected the implementation to be smooth.
They said the strategy for charging and the system for tracking transactions for the purposes of applying the levy had been piloted and found to be resilient and ready for actual implementation.
They added that the various exemptions granted in the E-Levy Act (2021), Act 1067, had also been programmed into the system and would be applied on take off.
The government and private sector leaders, however, said as was the case with new systems, a few hitches could be expected, but they were unanimous in assuring the public that staff of the four stakeholder institutions would be on hand to address all concerns for a successful implementation.
Dr Owusu-Amoah said the revenue target for the E-Levy had been revised downwards to GH¢4.5 billion from the initial GH¢6.9 billion, following the reduction in the rate from 1.75 to 1.5 per cent and the delay in the implementation.
The Ghanaian Times reports that the Millennium Development Authority (MiDA) has handed over 52 Mega Volts Amps (MVA) Primary Substation and its associated Interconnecting Circuits (ICC) to serve the University of Ghana Medical Centre (UGMC) and its environs.
The facility, which will ensure a stable power supply, is extended to Noguchi Memorial Institute for Medical Research, Ghana Standards Authority, Okponglo area, Fiesta Royale, Ghana Institute of Public Administration (GIMPA) and the surrounding areas.
The project worth $11million was funded by the Ghana Power Compact Programme funded by the United States Government, acting through the
Millennium Challenge Corporation (MCC),
Inaugurating the facility, the Deputy Minister for Energy, Mr Mohammed Amin Adam, said the substation had been integrated into the existing Electricity Company of Ghana (ECG) 33kV Sub-transmission Network through a total of 24 km of 33kV interconnecting circuits.
According to him, UGMC Primary Substation was one of many electric infrastructural assets, which formed part of the ECG Financial and Operational Turnaround (EFOT) Project of the Compact Programme.
He said equipment within the substation comprised of two 20/26MVA transformers, located outdoors and switching equipment housed in a basement-type Control Building.
“The substation has been sized to provide for any future extension of the 33kV and 11kV switchgear and power is evacuated to the UGMC and other load centres through 41.4 km of 11kV offloading circuits,” he said.
The newspaper says that the Korea International Cooperation Agency KOICA and the University of Ghana on Tuesday, signed a $9 million project to improve research, information and communication technology (ICT).
Called the Ghana-Korea Centre of Excellence for ICT-based Startups and Asian Research (GK-IMPACT), the project aims to support the cause of nurturing training students, and science lecturers of the university to use ICT tools for the development of the Ghanaian economy.
It was signed by the Country Director of KOICA, Mr Moo Heon Kong and Professor Nana Aba Amfo, the Vice Chancellor of the University of Ghana.
It was witnessed by the Korean Ambassador to Ghana, Mr Lim Jung-Taek; the Senior Deputy Country Director of KOICA, Mr Seung Mi Oh; Dr Lyold G. Adu Amoah, Director, Centre for Asian Studies and the United Nations Children Fund (UNICEF) Deputy Country Representative, Mr Fiachra McAsey.
Mr Jung-Taek said the University of Ghana was a prestigious institution and the right place to implement the project.
He said GK-IMPACT was a meaningful project which would contribute to furthering the cooperative relationship between Korea and Ghana.
Ambassador Jung-Taek noted that the Centre would make Ghana a hub for deepening understanding of Asia, in particular Korea’s unique and inspiring history of economic growth underpinned by cutting-edge technological advancements and innovation.
He stated that the Republic of Korea would provide support for the implementation of the GK-IMPACT Project, thereby ensuring that the Centre becomes a world-class knowledge-sharing hub and platform for intercollegiate exchange and promotion of Korean culture and best-practices.
For his part, Mr Kong said KOICA believed that GK-IMPACT would function as a hub for digital transformation and pivotal in training future ICT entrepreneurs to lead the socio-economic development of Ghana.
In this regard, the KOICA Country Director said “We will require the concerted efforts, commitment and dedication of all stakeholders including University of Ghana who shall host this centre of excellence, the Centre for Asian Studies, and UNICEF, a key partner in this project.”
GIK/APA