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    Boost domestic revenue to achieve Ghana Beyond Aid — World Bank

    Parliamentary C’ttee questions GH¢272,000 cost of 2-bedroom under affordable housing project

    Dr. Mahamudu Bawumia, Vice President.

    We’re disrupting corrupt behaviour in public service delivery through digitization – Bawumia

    GRIDCo staff suspend strike over debt owed by ECG, others

    Bawumia outdoors project to allow instant verification of motor insurance

    World Bank Country Office signals reduction in number of development projects

    181 projects under 1D1F at various stages of implementation — Trade Minister

    Inflation inches up for the second consecutive month

    How major tech companies exploit tax laws: a focus on Ghana and Nigeria

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    Boost domestic revenue to achieve Ghana Beyond Aid — World Bank

    Parliamentary C’ttee questions GH¢272,000 cost of 2-bedroom under affordable housing project

    Dr. Mahamudu Bawumia, Vice President.

    We’re disrupting corrupt behaviour in public service delivery through digitization – Bawumia

    GRIDCo staff suspend strike over debt owed by ECG, others

    Bawumia outdoors project to allow instant verification of motor insurance

    World Bank Country Office signals reduction in number of development projects

    GSS partners Vodafone & Flowminder to produce reliable data for sustainable development

    181 projects under 1D1F at various stages of implementation — Trade Minister

    Springfield E&P confirms discovery of 1.5 bn barrels of oil in Ghana

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    Dr. Mahamudu Bawumia, Vice President.

    We’re disrupting corrupt behaviour in public service delivery through digitization – Bawumia

    Bawumia outdoors project to allow instant verification of motor insurance

    GSS partners Vodafone & Flowminder to produce reliable data for sustainable development

    How major tech companies exploit tax laws: a focus on Ghana and Nigeria

    Virtual Security Africa installs modern CCTV System for University of Ghana

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    The Business of Customer Engagement and the Kirusa Konnect Solution

    Experience the all-new Huawei Y9s with super high-end features

    NCA sanctions against MTN over data bundle challenges not enough – Group

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    Svein Jakob Liknes

    Aker Energy appoints Svein Liknes as new CEO

    epa08024130 (FILE) - An image showing an Uber app on a mobile phone in central London, Britain, 22 September 2017 (re-issued 25 November 2019). Media reports on 25 November 2019 state the Transport for London (TfL) has said it would not continue to grant Uber a licence to operate in London. Uber, that first lost its licence due to safety concerns in 2017 but received a 15-month license for operating in London, said it would appeal the decision. Uber, that has some 45,000 drivers working in London, will continue to operate during the appeal process.  EPA/WILL OLIVER *** Local Caption *** 54443222

    Uber loses licence to operate in London

    Nigerian entrepreneur wins maiden Netpreneur award organized in Ghana

    West African CFA-Franc nations plan to move reserves from France

    WhatsApp and Instagram to undergo a Facebook face-lift

    McDonald’s boss Steve Easterbrook fired after dating employee

    Dr. Joseph Obeng - President, GUTA

    Allow Ghanaian traders stuck in Nigeria to move out — GUTA

    MTN reveals revenue growth despite drop in subscribers

    New report attributes rising e-commerce to expanding middle-class, tech savvy young people

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    Boost domestic revenue to achieve Ghana Beyond Aid — World Bank

    Parliamentary C’ttee questions GH¢272,000 cost of 2-bedroom under affordable housing project

    Dr. Mahamudu Bawumia, Vice President.

    We’re disrupting corrupt behaviour in public service delivery through digitization – Bawumia

    GRIDCo staff suspend strike over debt owed by ECG, others

    Bawumia outdoors project to allow instant verification of motor insurance

    World Bank Country Office signals reduction in number of development projects

    181 projects under 1D1F at various stages of implementation — Trade Minister

    Inflation inches up for the second consecutive month

    How major tech companies exploit tax laws: a focus on Ghana and Nigeria

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

    Boost domestic revenue to achieve Ghana Beyond Aid — World Bank

    Parliamentary C’ttee questions GH¢272,000 cost of 2-bedroom under affordable housing project

    Dr. Mahamudu Bawumia, Vice President.

    We’re disrupting corrupt behaviour in public service delivery through digitization – Bawumia

    GRIDCo staff suspend strike over debt owed by ECG, others

    Bawumia outdoors project to allow instant verification of motor insurance

    World Bank Country Office signals reduction in number of development projects

    GSS partners Vodafone & Flowminder to produce reliable data for sustainable development

    181 projects under 1D1F at various stages of implementation — Trade Minister

    Springfield E&P confirms discovery of 1.5 bn barrels of oil in Ghana

  • Telecoms/Technology
    • All
    • Technology
    Dr. Mahamudu Bawumia, Vice President.

    We’re disrupting corrupt behaviour in public service delivery through digitization – Bawumia

    Bawumia outdoors project to allow instant verification of motor insurance

    GSS partners Vodafone & Flowminder to produce reliable data for sustainable development

    How major tech companies exploit tax laws: a focus on Ghana and Nigeria

    Virtual Security Africa installs modern CCTV System for University of Ghana

    Huawei Y9s available after initial sell-out in 4 hours of release

    The Business of Customer Engagement and the Kirusa Konnect Solution

    Experience the all-new Huawei Y9s with super high-end features

    NCA sanctions against MTN over data bundle challenges not enough – Group

  • World
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    • Asia
    • Europe
    • Middle East
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    Svein Jakob Liknes

    Aker Energy appoints Svein Liknes as new CEO

    epa08024130 (FILE) - An image showing an Uber app on a mobile phone in central London, Britain, 22 September 2017 (re-issued 25 November 2019). Media reports on 25 November 2019 state the Transport for London (TfL) has said it would not continue to grant Uber a licence to operate in London. Uber, that first lost its licence due to safety concerns in 2017 but received a 15-month license for operating in London, said it would appeal the decision. Uber, that has some 45,000 drivers working in London, will continue to operate during the appeal process.  EPA/WILL OLIVER *** Local Caption *** 54443222

    Uber loses licence to operate in London

    Nigerian entrepreneur wins maiden Netpreneur award organized in Ghana

    West African CFA-Franc nations plan to move reserves from France

    WhatsApp and Instagram to undergo a Facebook face-lift

    McDonald’s boss Steve Easterbrook fired after dating employee

    Dr. Joseph Obeng - President, GUTA

    Allow Ghanaian traders stuck in Nigeria to move out — GUTA

    MTN reveals revenue growth despite drop in subscribers

    New report attributes rising e-commerce to expanding middle-class, tech savvy young people

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Economists urge gov’t to tread cautiously on MoMo tax idea

by Jessica Ayorkor Aryee
November 26, 2019
2 min read
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Some economists are asking government to tread cautiously with the idea to tax Mobile Money transactions.

Communications Minister, Ursula Owusu-Ekuful recently hinted at a possible introduction of a tax on MoMo transaction, but some economists say the idea ought to be analyzed carefully not to hurt financial inclusion.

The total value of mobile money transactions for the first six months of this year reached 140.2 billion cedis, up from the 104.6 billion cedis recorded in the same period in 2018. Data released by the Bank of Ghana shows that this represents a 34 percent rise in the value of transactions recorded for the period under review.

RelatedPosts

BoG directs fintechs and MoMo operators to acquire license by June 2020

Taxing mobile money transactions will be double taxation — Terkper

Government must tax fees earned by mobile money operators — Ursula Owusu-Ekuful

Between January and June this year, the total volume of mobile money transactions reached 915.8 million cedis compared to the 655 million cedis recorded in the same period last year. This translates into an estimated forty percent growth.

It is based on some of these figures that the Communications Minister made a case for possible taxation of fees from MoMo transactions.

The Minister said mobile money companies earn an average GH¢71 of million monthly as transaction fees arguing that the income ought to be taxed.

But a former Finance Minister, Seth Terkper, disagrees with her insisting that the tax would amount to double taxation and would be passed onto consumers.

Some economists have also waded into the discussion. Speaking at the ISSER 2020 budget review, Director of ISSER, Prof. Peter Quartey, said government should only tax if it is certain that it won’t be passed on to consumers.

“We should know what type of tax we are going to impose. Are we going to tax the telcos or users of the service? If you tax users, majority will fall out. I am in support of it, yes, but let’s tax the Telcos but let’s not overtax them. Let’s impose taxes that they can accommodate without even having to pass onto consumers” he emphasized.

Economist Dr. Charles Ackah also wants government to consider the implication of the tax on consumers.

“There are two forms of taxes. There are taxes that are regressive and there are taxes that are progressive. The fact that we need money doesn’t mean we need to just tax. We need to find out the kind of tax, who is going to bear the burden of the tax. In this case for example, who is government trying to tax, is it the Telcos or the consumer?” he asked.

Tags: consumerseconomistmobile moneytelcos

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