Breaking News; Government slaps additional tax on Momo Operators

GOVERNMENT TO TAX MOMO CASH OUT COMMISSIONS IN ADDITION TO THE CASH IN COMMISSION TAX FROM JUNE THIS YEAR.

Government through the Ghana Revenue Authority will by June,2021 introduce a new tax levy on Mobile Money Operators aside the 10% withholding tax paid every month on cashin commissions. This new levy is targeting the cashout commissions of Operators. Per the information gathered, the current rate of 40% 0.4 will reduce to 36% or 0.36. This deduction will be effected after every cashout and paid every month per the current arrangement.

This came as a shock and worrying to management the mobile money agent’s association and all operators as Agents pay three different taxes to government already excluding the cost of operation, labour. Not¬†forgetting how agents are battling with fraudster and robbers leading to lost of lives.

Th Management however appeals to all Agents to remain calm and rally all support as they take remedial step.

Leave a Reply

Your email address will not be published.

error

Enjoy this blog? Please spread the word :)

%d bloggers like this: