General News

2022 Budget: Government taxes MOMO transactions above GH¢100

The government aims to impose 1.75 percent levy on mobile money and other electronic transactions worth  more than GHC100 every day.

The proposal is part of efforts by the government to raise revenues to prosecute its agenda.

Mr. Ken Ofori-Atta, the Finance Minister, included the levy in the 2022 budget statement today.

When the charge goes into force, he says it will not affect people with monthly transactions of about GH¢3,000.

The charge will be termed as the ‘Electronic Transaction Levy or E-Levy’ and portion of the proceeds will be  allocated to assist entrepreneurship, youth employment, cyber security, digital, and road infrastructure, among  other things.

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