E-Levy deductions to start in May this year, Ofori-Atta
General Secretary of Mobile Money Agents Association of Ghana, Evans Otumfour, has said the wrong implementation of the Electronic Transfer Levy (E-Levy) will badly affect them.
According to him, many businesses would be cut off, whiles workers will also be laid off if the MoMo business is not brisk as usual.
Speaking in an interview on 3FM's Sunrise show on April 25, Mr Otumfuor said, “Even before we finally reach the implementation, signals we are picking from our business suggest a lot of unforeseen situations like people going to have their business cut off and our workers will stand being laid off. As it stands now business is not as usual as we used to have it.”
He stated that the business has taken a nosedive since the announcement of the controversial E-Levy.
Evans Otumfuor, therefore, called on government to intensify public education for there to be a smooth running of MoMo business.
It would be recalled that Finance Minister, Ken Ofori-Atta, on Tuesday, March 29, 2022, moved the motion for the passage of the E-Levy bill at a revised rate of 1.5% in Parliament.
This 1.5% levy will be charged on all electronic transfers of about GH¢100. It's a move by the goverment to widen the country's tax net.
A total of GH¢6.9 billion target would be generated by the end of the year.
A MoMo vendor serving a customer