E-Levy: We are allies, we'll ensure tax policy succeeds – MoMo Agents to Akufo-Addo

Mobile Money Agentsda Memeber of the MoMo Agents Association following their meeting at the Jubilee House

Wed, 11 May 2022 Source: www.ghanaweb.com

The Mobile Money Agents Association (MMAG) has extolled President Nana Addo Dankwa Akufo-Addo for efforts made towards the development of the Mobile Money (MoMo) ecosystem in Ghana.

This is according to portions of a citation presented to President Akufo-Addo on Tuesday, May 10, 2022 at the Jubilee House.

In what would be a startling U-turn to their initial stance against the implementation of the E-Levy, the MoMo Agents Association of Ghana has now thrown its weight behind the tax policy.

“The Mobile Money Agents Association of Ghana will forever be grateful for your unrelenting efforts in the evolution and development of the Mobile Money Ecosystem,” the last paragraph of the citation read.

General Secretary of the MMAG, Evans Otumfuor at a meeting with the President assured of its commitment and support for the implementation of the E-Levy and indicated that there were present as allies and not opposing forces against the levy.

“Your Excellency, let it be on record that our organization believes in the payment of taxes as a major tool to drive the needed development and progress and would not do anything that frustrates the success of the E-levy,” the General Secretary is quoted to have said by the Presidency.

“Your Excellency, recently we have witnessed government’s plan to introduce an electronic transaction levy which, as an association we have raised a number of concerns but as we speak now, yesterday [Sunday] we were in a meeting with the Ministry of Finance, Ghana Revenue Authority and other relevant stakeholders and most of our concerns regarding the electronic transaction levy (E-Levy) have been addressed,” Otumfuor added.

The Association however appealed to the President to expedite action on some challenges its members and agents were facing in the implementation of the tax policy.

“Your Excellency, we appeal to you and the Minister of Finance to expedite action to look at the challenges that the levy has brought to us as agents in line with doing our business such as deductions that are made at the agent’s account in an attempt to push funds from their agent’s accounts to their bank accounts for purposes of withdrawals and other agents’ related activities,” the General Secretary appealed.

Meanwhile, the Charging Entities for the E-Levy are telecommunications companies, commercial banks, special deposit taking institutions and Payment Service Providers (PSPs).

The Ghana Revenue Authority has however set a one-month deadline to fully roll out the Electronic Transfer Levy by June 30, 2022.

The E-Levy imposes a 1.50 percent charge on specific electronic transactions above GH¢100 on a daily basis.

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Source: www.ghanaweb.com
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