2022 Budget: Govt Taxes MOMO Transactions Above GH¢100

The government has proposed to impose a 1.75 per cent levy on MOMO 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.

The levy is contained in the 2022 budget presented by Finance Minister, Mr Ken Ofori-Atta.

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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.

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SOURCEGraphic Online
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