<\/p>\n
The Mobile Money Agents Association of Ghana, says most of its members may shut down their mobile money businesses following the passage of the 1.5% Electronic Transfer Levy.<\/p>\n
\u201cWe may be tempted to withdraw our services because the service already is not all that lucrative,\u201d the General Secretary for the association, Evans Otumfour, said in a Citi News interview.<\/p>\n
\u201cA lot of our people will definitely be out of business\u2026 when the policy was announced, there was a sharp decline or drop in the use of mobile money,\u201d he added.<\/p>\n
The levy, which was amended from 1.75 percent to 1.5 percent today, Tuesday, March 29, 2022, will be a tax on electronic transactions, which includes mobile-money payments.<\/p>\n
The charge will apply to electronic transactions that are more than GH\u00a2100 on a daily basis.<\/p>\n
Critics of the proposal have warned that this new levy will negatively impact the Fintech space, as well as hurt low-income people and those outside the formal banking sector.<\/p>\n
The government has, however, argued the levy would widen the tax net and that could raise an extra GH\u00a26.9 billion in 2022.<\/p>\n
Parliament passed it in the absence of the Minority MPs, who had walked out before the Bill was seriously considered.<\/p>\n
The Minority had complained that it had been blindsided by the unexpected laying of the controversial tax.<\/p>\n
It subsequently said it would challenge the passage of the levy at the Supreme Court.<\/p>\n
Speaking at a press conference on Tuesday, the Minority Leader, Haruna Iddrisu, said the passage was unconstitutional, as Parliament did not have the required numbers to make a decision on the e-levy.<\/p>\n
\u201cI think they have to come again on E-levy because as of today, I don\u2019t think they had the numbers to say that the E-levy has been passed. We will question this decision in [the Supreme] court on the basis of the earlier ruling and on the basis of the fact that they said we can\u2019t take a decision with 137 [members], but they can take with 137,\u201d he said.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
The Mobile Money Agents Association of Ghana, says most of its members may shut down their mobile money businesses following the passage of the 1.5% Electronic Transfer Levy. \u201cWe may be tempted to withdraw our services because the service already is not all that lucrative,\u201d the General Secretary for the association, Evans Otumfour, said in […]<\/p>\n","protected":false},"author":1,"featured_media":1039094,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[2009,6490,3412],"class_list":["post-1039106","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-members","tag-quit"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1039106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1039106"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1039106\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1039106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1039106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1039106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}