New Mobile Money charges before and after 2022 Budget Statement

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Filed photo of people transacting Mobile Money (MoMo) business
Filed photo of people transacting Mobile Money (MoMo) business

Most Ghanaian citizens living in Ghana have expressed worry and disastisfaction after the Presentation of the 2022 Budget Statement and Economic Policy by Finance Minister Ken Ofori-Atta to Parliament on Wednesday, 17th November, 2021.

Ghanaians felt that, they have been burdened with exorbitant taxes described as E-levy in the 2022 Budget Statement and Economic Policy.

The 2022 Budget Statement has introduced a new MoMo tax ( E-Levy) to be implemented by Government of Ghana under President Nana Addo Dankwa Akufo-Addo’s Presidency.

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READ MORE: 2022 Budget Statement and Economic Policy

According to Finance Minister, President Nana Addo Dankwa Akufo-Addo’s government has put a levy on all electronic transactions known as electronic levy.

Speaking further, he said, the E-Levy, Mobile money (Momo) transactions will now be taxed as part of the new Electronic Transaction Levy at 1.75% to be borne by the sender as soon as Parliament approved the budget.

The announcement of the Mono tax has hits Ghanaians so hard that, most of them took to social media handles to express their misfeelings.

Some said, government is imposing further hardships on them with these new raft of taxes on MoMo transactions, bank transfers, merchant payments, inward remittances, property rates, fees and charges automatic adjustments and so on and so forth.

In the means of the debate and frustrations expressed by many, a chart of new MoMo has surfaced detailing charges before and after the 2022 Budget Statement and Economic Policy presented by Finance Minister to Parliament.

In the chart, a charge of GH¢1.50 on an amount of GH¢150 before the 2022 budget will now stand at a charge of GH¢4.05 if the budget is approved, representing a different of GH¢2.55 as compared to the current charges.

In addition, it simply means that, if the budget is approved and someone wants to send GH¢300, he/she will be charged GH¢5.10 instead of the usual GH¢3.

Also, if someone wants to send GH¢5,000, there will be a charge of GH¢95 instead of old charge of GH¢10 making a different of GH¢75.

Find attached, the new MoMo charges before and after the budget as intercepted by Coverghana.com.gh

Find attached, the full budget statement as presented by Ken Ofori-Atta.

SOURCE: Coverghana.com.gh

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