The Ghana Revenue Authority (GRA) has indefinitely postponed the collection of the GH₵1 Levy on petroleum products.
The levy was scheduled to be implemented from Monday, June 16, 2025. But the GRA in an internal memo dated June 13, 2025, said it had been directed by the Minister of Finance to hit the pause on the tax.
“This directive is issued to postpone the implementation date of Tarrif Implementation Order relating to the Energy Sector Levies Amendment Act 2025. This follows a directive from the Minister of Finance after consultations with stakeholders,” the memo said.
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The suspension of the levy’s implementation also comes on the back of recent events in the Middle East, particularly the ongoing escalations between Iran and Israel. There are fears that the tensions could have consequences for oil prices back home in Ghana.
Oil prices jumped on Friday and settled 7% higher as Israel and Iran traded air strikes, feeding investor worries that the combat could widely disrupt oil exports from the Middle East, Reuters reported.
The Ministry of Energy also confirmed that the suspension of the levy is due to the situation in the Middle East.
“The President has directed the Ministers of Energy and Finance to keep monitoring the situation. So, they will keep monitoring, and as and when the factors look favorable, definitely, a new date will be announced,” said Richmond Rockson, the Spokesperson and Head of Communication for the Ministry, when he spoke to Channel 1 TV.
However, the Minority in Parliament is calling for a complete suspension of the levy, as they have already been opposed to it since its introduction in Parliament.
” This eleventh-hour postponement of the Energy Sector Shortfall and Debt Repayment Levy (ESSDRL) on petroleum products, originally scheduled to take effect on 16th June 2025, epitomises this Government’s chaotic and fundamentally inconsistent approach to economic governance.
“The Government must forthwith convene Parliament under certificate of urgency to repeal this legislation in its entirety. Any response falling short of complete repeal shall prove unacceptable both to the Minority and to the people of Ghana,” the Minority said in a statement on Saturday.
It remains uncertain whether the government may repeal the levy, given the justifications that led to its passage.