E-Levy: Momo Agents Make U-Turn About Policy, Embrace Tax After Meeting Akufo-Addo

E-Levy: Momo Agents Make U-Turn About Policy, Embrace Tax After Meeting Akufo-Addo

  • Mobile money agents have changed their stance on the E-Levy, stating that they now support the tax regime
  • This follows a meeting between the Mobile Money Agents Association of Ghana and President Nana Akufo-Addo at the Jubilee House
  • The mobile money agents said all their concerns about the 1.5% tax regime were resolved by the president

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Mobile money agents in Ghana have made a sudden U-turn about the controversial E-Levy, embracing the new tax policy after a meeting with Nana Akufo-Addo.

The change in stance on the tax by the Mobile Money Agents Association of Ghana after meeting the president at the Jubilee House on Tuesday, May 10, 2022 has been described by a secton of the public as sinister.

E-Levy momo agents
Leadership of the Mobile Money Agents Association of Ghana meet Akufo-Addo at the Jubilee House. Source: Facebook/@nakufoaddo
Source: Facebook

Secretary of the Association, Evans Otumfuo, told reporters that many of the association’s concerns about the effect the tax will have on their businesses have been resolved.

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According to a Citi News report, Otumfuo lauded President Akufo-Addo for the introduction of E-Levy, describing it as a “wonderful initiative.”

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“Indeed, we had some concerns when the tax was introduced earlier. But these have been addressed. We are ever willing to partner government to bring up more of such refreshing policies,” Evans Otumfuo told reporters after the meeting.

He also appealed to the government to involve them in the future when formulating a policy that affects their operation.

When the tax was proposed, the mobile money agents threatened to stage a street protest against it because it was going to kill their businesses.

They feared mobile money transactions would reduce significantly when the tax bill was passed because many would try to avoid paying the 1.5% tax.

That protest did not come on, however, days after the implementation of the levy on May 1, 2022, some mobile money vendors complained that their businesses are being threatened due to panic withdrawals and a fall in transactions.

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It is unclear how their concerns were resolved shortly after meeting with the president.

The Finance Ministry hopes to raise GH¢4 billion in revenue from the 1.5% tax on selected electronic and bank transactions above GH¢100.

E-Levy: GRA Begins Refunding Wrongful Deductions On The First Day Of Implementation

In a related story, YEN.com.gh reported that the Ghana Revenue Authority (GRA) has started to refund unlawful deductions on the Electronic Transfer Levy during the first day of the implementation of the tax.

YEN.com.gh sighted some text messages from the GRA to some people who were affected by the deductions.

The GRA blamed the illegal deductions during the first few days of the E-Levy implementation on technical hitches. GRA’s Project Management Unit Head, Isaac Kobina Amoako, promised that the issue would be thoroughly investigated and the illegal deductions refunded.

Source: YEN.com.gh

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