There has been a palpable sense of loss and distrust among the general public towards the Akufo-Addo administration following the sudden taxation of mobile money transactions in the country.
Mobile money was the last item in the equation for taxation by government in the bid to encourage financial inclusion.
Vice President Dr. Mahamudu Bawumia had indicated that he does not think Mobile Money should be taxed beyond the corporate taxes the telcos already pay on their mobile money earning.
The Head of the Economic Management Team made the point in an exclusive interview with Kwame Sefa Kayi on Peace FM in August 2020.
“I don’t think Mobile Money should be taxed because most of the people who use the service are poor people so if you put more taxes on it they will suffer,” he stated.
But the abrupt reversal of the government’s decision in the 2022 budget on mobile money and digital transaction has fueled rage and disappointment Ghanaians.
The government, as part of strategies to widen the country’s tax net, has announced an Electronic Transaction Levy.
It will be a 1.75 percent charge on all electronic transactions including MoMo.