- An official of the Ghana Revenue Authority (GRA) has revealed plans by the Authority to stop people sending money through momo vendors
- According to Patrick Frimpong Danso, although the practice is common, it has always been illegal
- The revelations by Mr Danso follow reports that mobile money vendors were cashing in on increased deposit transactions as people try to avoid paying the E-Levy
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An official of the Ghana Revenue Authority (GRA) has revealed that it is illegal for someone to send money to another person through a mobile money vendor.
Patrick Frimpong Danso, who is a member of a Technical Committee fine-tuning the implementation of the Electronic Transactions Levy (E-Levy) has said although the practice is common it has always been illegal.
“It is illegal. You can’t go to a vendor and say take GH¢200 and send it to someone for me. No. When you go to the vendor, you are going to do only two things: to do a cash-out or cash-in. So, either you are withdrawing money or you are putting money in your own wallet,” he told Joy News on Monday, June 30, 2022.
He said the practice has picked up recently because people are trying to beat the 1.5% charged on mobile money and electronic transactions above GH¢100.
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“This thing has been happening for a long time but many don’t know it is illegal,” the GRA official stressed.
The revelation by Mr Danso follows a report by the Business & Financial Times (B&FT) last week that contrary to fears that implementation of the E-levy would collapse the business of mobile money agents, they seem to be making money from a new revenue stream – cash-in transactions.
According to the report, desperate attempts by some customers to avoid the E-Levy have triggered the increased cash-in or deposit transactions.
Mr Danso from the GRA has revealed the Authority is moving to use technology to stop people to send money to other people through vendors.
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He said a new technology would soon be deployed to make it impossible for vendors to send money to a mobile wallet that is not within a given distance.
Akufo-Addo Justifies Taxes As Sacrifice Ghanaians Must Make For National Development
Meanwhile, YEN.com.gh has reported in a separate story that President Nana Akufo-Addo has justified what many have described as the numerous taxes imposed on Ghanaians as the sacrifice needed for national development.
The president said while paying taxes are painful, they are important for the success of the shared effort to lift Ghana from the present economic challenges.
“All of these are the sacrifices that are required for us to make it, and we have to be prepared to do so. So, let us understand that we have to rise to the challenge and do it for ourselves,” Citi News quoted the president in a report on Friday, May 13, 2022.