The Securities and Exchange Commission (SEC) has begun working with the Ministry of Finance (MoF) regarding the potential exemption of investment transactions from the Electronic Transaction Levy (E-Levy).
It however wants capital market operators to strictly adhere to guidelines issued by the Ghana Revenue Authority over the implementation of the E-Levy until such exemptions
are granted.
The move by the SEC to get exemption of investment transactions from E-Levy is to prevent reduction in investment transactions.
“It is estimated that by the start of the second phase (July 1, 2022) of the modified phased-approach adopted by the GRA, charging entities would have completed their integration with the GRA E-Levy Management System (Common Platform), thereby facilitating the complete identification of individuals, verification of daily threshold and exemptions across the various platforms of the Charging Entities”, it pointed out in a statement.
The SEC however urged all capital market operators to update their customers’ investment records using their individual National Identification Card (Ghana Card).
It also wants the capital market players to ensure full compliance with the directive issued by the SEC in July 2020 on Trust Accounts’ opening, maintenance and operation SEC/DIR/003/07/2022 which shall become a key ingredient in seeking potential exemptions for the market.
Latest Stories
-
Capital Market Quiz: Prempeh beats Presec, 2 others to win 2023 edition
45 mins -
More education needed to combat gender-based violence – Dr. Binka
3 hours -
Livestream: The Probe discusses NDc’s 24-hour economy proposal, other matters
3 hours -
Morgan’s Miracles, Sampson Amoateng Foundation help 150 vulnerable people register on NHIS
3 hours -
Thirty-five nurses and midwives trained in data analysis
3 hours -
Ghanaian midfielder Yaw Yeboah stars with goal as Columbus Crew win 2023 MLS Cup
4 hours -
Over 30% of anaesthetists left Ghana for greener pastures – GACRA
4 hours -
CAF Confederation Cup: Dreams FC seal dramatic 3-2 win over APC Lobito
4 hours -
Ghana PL: Mukwala scores brace as Kotoko come from behind to beat Hearts in five-goal thriller
5 hours -
Mohammed Salisu “very proud” to make Monaco debut in first game in nearly nine months
5 hours -
Prioritize admission of students with special needs – Ghana Blind Union urges GES
5 hours -
Care Net Ghana, other NGOs gift Hohoe E.P SHS dormitory block
6 hours -
Fresh data from ISSER reveals the cheapest way to cook Jollof and Banku
6 hours -
Manchester City come from behind to beat Luton Town
7 hours -
Everton beat Chelsea for third win in a row
7 hours