Mobile Money Agents Association unhappy with 1.75% E-levy

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Fri, 19 Nov 2021 Source: atinkaonline.com

Members of the Mobile Money Agents Association of Ghana (MMAAG), have expressed disappointment in the government for introducing 1.75% levy on electronic transactions, especially mobile money.

The Finance Minister, Ken Ofori Atta, reading the 2022 budget in Parliament on Wednesday 17th November 2021, said government has decided to place a levy on all electronic transactions.

According to him, Electronic transactions covering mobile money payments, bank transfers, merchant payments and inward remittances will be charged at an applicable rate of 1.75%, which shall be borne by the sender except inward remittances, which will be borne by the recipient.

Speaking with Ekourba Gyasi Simpremu on Atinka TV‘s morning show, Ghana Nie, the National Deputy PRO for Mobile Money Agents Association of Ghana (MMAAG), Mr Joshua Edmunson who registered the frustration of the mobile money agents said the 1.75% will make people lose interest in the momo business.

Although he said the Association’s Members are good citizens and underscored the need to pay tax, they were rather expecting government to reduce the tax on momo since it raises operational cost aside other challenges confronting them, adding that the new 1.75% is not the right way to go.

“We are never against the payment of taxes. We are good citizens and we know tax is used to develop a nation so we are never against it. When you read the budget, you would realise that the intention is to support entrepreneurs, if that is it, then we understand it but that is not the way to go,” he said

Mr Joshua Edmunson said people will also lose interest in investing in the business, adding that the 1.75% levy will not attract more investors to the already existing frustrated ones.

Meanwhile, he called on government to call for a meeting between the Association to deliberate on the matter to look at the way forward.

Source: atinkaonline.com
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