In a surprise move, the Ghana Revenue Authority (GRA) has announced the postponement of the implementation of the Energy Sector Levies (Amendment) Act, 2025 (Act 1141). The new levy, which was set to increase the Energy Sector Shortfall and Debt Repayment Levy (ESSDRL) for selected petroleum products by GHC1, will not take effect on June 16, 2025, as initially planned.
According to a statement issued by the GRA, the decision to postpone the implementation of the levy was made after consultations with stakeholders and a directive from the Minister of Finance. The GRA has promised to communicate a new effective date in due course.
The postponement of the levy is likely to bring relief to Ghanaians who were bracing for an increase in fuel prices. The GRA’s decision is seen as a positive development for consumers and businesses that rely heavily on fuel products.
It is worth noting that the GRA’s statement did not provide any details on the reasons behind the postponement or the new effective date. However, sources close to the matter suggest that the decision was made to allow for further consultations with stakeholders and to assess the impact of the levy on the economy.
In the meantime, fuel prices are expected to remain unchanged, and consumers can breathe a sigh of relief. The GRA’s decision is a welcome development, and it remains to be seen how this will affect the overall economy.