Government introduces mobile money taxes

Government introduces mobile money taxes

The government wants to charge a 1.75 per cent fee on mobile money and other electronic transactions worth more than GH100 every day.

Addressing Parliament in his 2022 Economic Police and Budget Statement, Ken Ofori-Atta said the decision to introduce the new tax was part of the government’s efforts to increase revenue in order to be able to carry out its mission.

While the government thinks that is the best option though to go, though, it came to power on the back of a vehement campaign against taxation where then-candidate Akufo-Addo stated that Ghana was sitting money but hungry. As Ken Ofori-Atta mentioned the tax, the house shouted ‘noooo’ with that obviously coming from the Minority side who also registered their disapproval shortly after the budget statement was read.

The tax, Mr. Ofori-Atta said, will not affect persons with monthly transactions of less than GH3,000 once it becomes effective.

The charge will be known as the ‘Electronic Transaction Levy or E-Levy,’ and a percentage of the proceeds will be utilized to assist entrepreneurship, youth employment, cyber security, digital and road infrastructure, among other things, according to the Finance Minister.

Source: Richard Mensah Adonu | Join our Telegram Group

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