Ursula Owusu on Momo levy: Gov’t likely to raise GHc 500m every month

• The minister for communications and digitalisation has stated that government is likely to raise over Ghc500 million a month from the new E-levy
• Ursula Owusu Ekuful said over Ghc9 billion is likely to be raised from the levy annually
• She said majority of transactions and businesses have moved online and it is important that revenue is generated

The minister for communications and digitalisation, Ursula Owusu Ekuful, has revealed that the government is likely to raise over Ghc00 million a month from the newly introduced E-rasanctions ley.

The communications minister added that the government is also likely to raise over Ghc9 billion annually from the newly introduced e-levy.

In a report filed by tarrnews, rsula Owusu said the decision to introduce the E-levy is a more robust and prudent way to raise revenue for the development of the country.

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According to her, the majority of transactions and businesses have moved online and it is important that attention is paid to that sector to generate the needed revenue.

“So if you are looking at bulk payments, cashouts, person to person transfers, wallet to bank transfers, as of October we are looking at about Ghc11 million, if you are looking at the merchants, debit payments, sending, transfers, transfers to vouchers and the cashouts we are looking at Ghc440 million," she said.

“If you are looking at GHIPSS, and merchant payments and direct debit payments and organisations paying to customers and paying bills and sending money, we are looking at Ghc45 million so in total it is possible for the government to get about Ghc500 million from this in a month.”

Mobile Money transactions to be taxed as gov't introduces 'e-levy'

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The minister of finance, Ken Ofori-Atta has announced that a new levy will be charged by the government in 2022 on all electronic transactions.

This, according to him, will widen the tax net and rope in the informal sector.

Ofori Atta said the new electronic levy which will cover mobile money transactions and other electronic bank transfers will take effect from February 1, 2022.

Source: YEN.com.gh