GhPageEntertainmentUsers of MoMo required to pay 1.5% on deposits, sending, and all...

Users of MoMo required to pay 1.5% on deposits, sending, and all other transactions

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The Ghana Revenue Authority – Has rolled out the implementation of the 2nd Phase of the Electronic Transaction Levy (E-Levy).

Beginning today, Friday, 1 July 2022, users of mobile money will be required to pay 1.5% on deposits, sending, and all other mobile money transactions.

READ ALSO: GRA to start taxing e-levy on merchant sims from July

This is because Merchants/Momo Agents will now be charged 1.5 percent on all transactions.

It would be recalled that on May 11, 2022, a group calling itself “The Mobile Money Agents Association of Ghana (MMAAG)” visited the president and pledged their support for the E-Levy.

READ ALSO: “E-LEVY shall be cancelled” – Top government official discloses

“The association said it considered the payment of taxes as a major tool to drive the needed development and progress of any country and would thus collaborate with the government to boost the uptakes from the E-levy.”

Take a look at the photos below to know more…

READ ALSO: “E-levy is good, but Ghanaians do not like to pay tax” – Gabby Otchere Darko

In other news, following the forceful implementation of the electronic transactions levy (e-levy), the government has so far raked in only 10% of its estimated revenue.

This is according to a leading member of the governing New Patriotic Party, Gabby Asare Otchere-Darko.

The implementation of the levy took effect on May 1, 2022, and out of the estimated revenue of GHC600 million expected as of June 27, the government has only realised less than GHC60m.

In a series of tweets, Mr. Otchere-Darko said the e-levy, since its implementation has generated less than GH¢60 million instead of the expected GH¢600 million.

“After 5 months of stalemate and bashing, the e-levy, after implementation, is delivering only 10% of estimated revenues; our revenues remain very low as compared to the rest of the world; debt levels dangerously high, cedi, like most currencies, struggling against the US dollar.”

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Source:Ghpage

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