No Result
View All Result
Monday, August 15, 2022
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Private sector critical to renewable energy target- sector ministry

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Gov’t must invest more resources into agriculture sector – Agribusiness Chamber

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Farmers worried about possible unfair distribution of MoFA machines

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    Our cars to sell for cheaper soon- locally assembled automobile companies

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    Zenith Bank Ghana wins premium quality West African banking brand of the year 2021

    GIPC and GSE sign MoU to attract more investment into Ghana

    Appolonia City unveils its first commercial building; Adumuah Place

  • TECHNOLOGY

    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

    Extend SIM card re-registration exercise to January 2023 – MoMo agents

    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

    PayAngel joins Microsoft for Startups Founders Hub

    Node 8, HTU hold first edition of Node X in Ho

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Private sector critical to renewable energy target- sector ministry

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Gov’t must invest more resources into agriculture sector – Agribusiness Chamber

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Farmers worried about possible unfair distribution of MoFA machines

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    Our cars to sell for cheaper soon- locally assembled automobile companies

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    Zenith Bank Ghana wins premium quality West African banking brand of the year 2021

    GIPC and GSE sign MoU to attract more investment into Ghana

    Appolonia City unveils its first commercial building; Adumuah Place

  • TECHNOLOGY

    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

    Extend SIM card re-registration exercise to January 2023 – MoMo agents

    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

    PayAngel joins Microsoft for Startups Founders Hub

    Node 8, HTU hold first edition of Node X in Ho

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Telcos Chamber cautions against taxing mobile money in Ghana

byBobbie Osei
September 16, 2021
in Banking And Finance, Local Economy, News, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

The Ghana Chamber of Telecommunications has urged government not to consider the possibility of taxing mobile money in the short to medium term.

This follows ongoing concerns amongst mobile money agents and other stakeholders of a likely introduction of some taxes on mobile money transactions.

Data from the Bank of Ghana over the years shows how mobile money has transformed and continues to transform lives in the country, especially in an era of COVID-19.

ADVERTISEMENT

Between June 2020 and June 2021, active mobile money accounts have risen from 15.5 million to 18.3 million, while the total value of transactions has risen from 45.3 billion to 89 billion within the same period.

On the back of the impressive numbers, the Minister for Communication and Digitalisation, Ursula Owusu-Ekuful had hinted at the possibility of taxing aspects of mobile money to help shore up governments’ revenue.

Also, a few months back, Mobile Money agents across the country were kicking against a 10% tax they say was being imposed on their earnings by the government.

But speaking at the 18th Knowledge Forum organized by the Ghana Chamber of Telecommunications, the Head of Research and Communications at the Chamber, Derek Laryea, opined that taxing any aspect of mobile money now will be counterproductive.

“Rather than going direct in terms of taxation, how about allowing the market dynamics to play out. This, if allowed to happen, will lead to improved efficiency, profitability and productivity. For us, as a chamber, we don’t think this is the time to discuss the matter of direct taxation of mobile money.”

On his part, however, the CEO of the Chamber of Telecommunications Kenneth Ashigbey noted that Mobile money is already being taxed.

“There are various ways by which mobile money is taxed. There is the Corporate Income Tax that is paid. The agents and merchants also pay withholding taxes on the commissions that they earn. By virtue of the fact that you have mobile money running, you have businesses who leverage the platform and also pay taxes. We definitely think that taxing mobile money directly is like taxing the cash in your pocket.”

Related Posts

Energy

Private sector critical to renewable energy target- sector ministry

byMichael Ogbodu

For Ghana to attain its renewable energy target by 2030, the private sector’s role is critical. Government has over the...

Read more

Cedi Depreciation: Government urged to enforce laws on pricing in dollars

Gov’t must invest more resources into agriculture sector – Agribusiness Chamber

Assistant Director, Fintech and Innovation, BoG, Clarence Blay

E-cedi will not affect MoMo business – Bank of Ghana

Farmers worried about possible unfair distribution of MoFA machines

Bank of Ghana to widen its scope on cryptocurrency

Importers, Exporters Association calls for sympathy for Labianca following corruption claims

Next Post

GCS Fibers LLC to establish 12 factories in Ghana

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.