Mobile Money Advocacy Group Ghana (MOMAG) and Momo Agents have expressed disappointment with the Ghana Revenue Authority (GRA) over the imposition of the E-levy on agent SIM cards, which they say is resulting in double taxation for their businesses.
MOMAG, in a statement on Wednesday, March 20, 2024, noted that despite engaging with GRA to address their concerns, no fruitful result has been achieved.
The new levy, in addition to the existing 10% income tax on all transactions, is jeopardizing the financial sustainability of their businesses, according to MOMAG.
“The current situation is untenable, and if not addressed promptly, we risk losing all our capital due to the heavy burden of double taxation,” the statement read.
The Association is calling on the government, particularly the Ministry of Finance, and other relevant stakeholders to intervene and bring the GRA to order.
The statement, signed by the National Secretary, Kingsley J. Amoako-Atta also stated that the imposition of the E-levy on Agent SIM cards and the 1% levy on all Push and Pull transactions from banks are creating an unsustainable financial burden for mobile money agents.
MOMAG has threatened to shut down shops and embark on demonstrations if their concerns are not addressed soon.
Find the statement below
