Chief Executive of the Chamber of Telecommunications, Ing. Dr. Kenneth Ashigbey, has stated even though processes to ensure that the electronic transfer levy is implemented, are a bit delicate, telecom operators will do their part to ensure that the required systems are put in place.
He stated that even though he is not certain of the completion of the systems by May as stated by the finance minister, the telcos will do whatever possible to start the collection of the levy.
Speaking on the Citi Breakfast Show on Monday, April 4, Dr. Ashigbey noted that the issue of money is a delicate one that needs flawless systems to avoid any backlash thus the right infrastructure must be put in place and tested to ensure that they are fit for purpose before going live.
“I can’t say whether one month will be enough time for all of those systems [necessary] because if there are major variations that have been made, we’ll need to see whether all the things we were looking at, at the beginning could be done within months. From our side, we will do whatever is possible."
"This is about money, and we don’t want a system where there will be a backlash on it. We need to make sure that we can do the integration with the GRA’s systems and do the user acceptance test and validation to make sure everything is well before we go live. We also know that Parliament has passed the law, and we need to work at that, but those considerations of the practicality of all of that have to be done,” he said.
Parliament on Tuesday, March 29, 2022, passed the E-Levy bill which the President has assented to become law. Finance Minister Ken Ofori-Atta has stated that the implementation of the 1.5% levy on electronic transfers will start from May this year.
This has however forced telcos to within the space of a month put in place structures that will help them fully collect the taxes.
Meanwhile, pending the implementation of the bill, mobile money has reportedly lost GH¢10billion in revenue.
Ken Ashigbey is CEO of Telecoms Chamber