2022 Budget: Govt taxes MOMO transactions above GH¢100
Maxwell Akalaare Adombila
Business News
The government has proposed to impose a 1.75 per cent levy on mobile money and other electronic transactions that exceed GH¢100 per a day.
The proposal is part of efforts by the government to raise revenues to prosecute its development agenda.
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The levy is contained in the 2022 budget presented by Finance Minister, Mr Ken Ofori-Atta.
He said when effective, the levy will not affect people whose monthly transactions totaled GH¢3,000.
He said the levy will be called Electronic Transaction Levy or E-Levy and a portion of the proceeds from it will be used to support entrepreneurship, youth employment, cyber security, digital and road infrastructure, among others.
Read also: Budget 2022: Ghana abolishes road tolls
