E-Levy: Over 40% of MoMo transactions are below GH¢100 – Deputy finance minister

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The Deputy Minister for Finance, Abena Osei-Asare, announced that more than 40% of mobile money exchanges in Ghana are beneath GH¢100 each day.

As per her, information from the government shows that over 40% of mobile money exchanges were under a GH¢100 each day – a challenge that constrained the government to postpone charges for this group of Ghanaians.

The Deputy Finance Minister revealed these at the official opening of a four-day sensitization program for staff of the Information Service Department (ISD) across Ghana about the electronic transaction levy (E-levy).

The program, which is under the sponsorship of the Ministry of Finance, targets at enabling the ISD to have national training sessions to sharpen Ghanaians on the significance of the E-levy. “Government feels that if you earn more, you should be in a position to put in more to help develop our nation,” Abena Osei Asare added

The Deputy Finance Minister, who is also the MP for Atewa East in the Eastern Region, told the ISD staff that clients of business establishments who make purchases for goods and services don’t need to change their strategy for making payments, as there is no E-levy charge on this too assuming the establishments are enlisted with GRA for VAT or Income Tax.

Teaching ISD staff about the reasoning behind the E-levy, she brought up that per records of the Ghana Revenue Authority (GRA), around 20% of the Ghanaian populace are qualified to pay taxes however the number is less – underlining that numerous Ghanaians don’t make good on income tax thus the government is trusting that, with the presentation of the E-levy, it will assist the country with broadening the expense net to incorporate a bigger part of the populace who are qualified to settle charges.

She also said another reason to support the e-levy is the fact that it helps generate funds to tackle national issues like unemployment rates, and inadequate physical and digital infrastructure such as roads and hospitals.

On the condition of digital transactions in Ghana, the Deputy Minister referenced that Ghana has encountered marvelous development over the most recent five years, with consistent development in the quantity of enlisted Mobile Money accounts.

She revealed that as per a Bank of Ghana (BoG) report, the final exchange esteem report of mobile money interoperability surpassed GH¢1trillion in March 2021 – up from roughly GH¢155million in 2017.

This improvement she said, means that there is a great deal of business in the mobile money exchange space, adding that the people and organizations from online businesses acknowledge installment electronically as opposed to actual money.

The Deputy Minister for Information, Fatimatu Abubakar, on her part, expressed that the occasion targets engaging the ISD to set out on a public sensitization effort to sharpen Ghanaians on the E-duty’s significance.

The commitment, as indicated by her, is important for some social affairs that have previously been held across Ghana – adding that the government-held municipal events diverted something very similar into strategy definition, where different misguided judgments encompassing the E-demand were brought to bear and consequently tended to.

The post E-Levy: Over 40% of MoMo transactions are below GH¢100 – Deputy finance minister appeared first on Mfidie.com.

Source – Mfidie.com

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