We’II oppose 1.75% momo tax

The Minority in Parliament has served notice it would oppose the introduction of the 1.75 percent levy on all electronic transactions including mobile money services.

The Finance Minister, Ken Ofori-Atta in his budget presentation said the government has decided to place a levy on all electronic transactions to widen the tax net and rope in the informal sector.

”This shall be known as the “Electronic Transaction Levy or E-Levy”, he said.

Electronic transactions covering mobile money payments, bank transfers, merchant payments and inward remittances will be charged at an applicable rate of 1.75%, which shall be borne by the sender except for inward remittances, which will be borne by the recipient.”

But the Minority says it will resist the introduction of the electronic tax.

Speaking to the press after the Minister’s budget presentation in Parliament, the Minority’s spokesperson on Finance Dr. Cassiel Aro Forson said the new levy will “only increase hardship and compromise inward remittance.”

According to him, the Minority will thus “stand by Ghanaians in opposing the momo tax.”

By: Rainboiwradioonline.com/Ghana

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