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90% of MoMo transactions exempt from E-Levy – Agents assure Ghanaians

The General Secretary of the Mobile Money Agents Association of Ghana (MMAAG), Evans Otumfuo, has revealed that about ninety percent (90%) of mobile money transactions do not attract E-Levy charges.

According to him, primary transactions which attract E-Levy charges are when one makes online purchases or transfers funds to another.

“With the current arrangement, about 90% percent of momo transactions do not attract E-Levy charges. The E-Levy charge applies to the transfer of funds and the making of purchases. If the payment is being made to a company registered with the Ghana Revenue Authority (GRA), the transaction will attract no charges,” he disclosed.

Evans Otumfuo also revealed the payment of utility bills via momo do not attract E-Levy charges as well.

He argues the education on E-Levy has been very low and charged the government to take the education down to the ordinary Ghanaian.

“We are facing a lot of challenges as momo agents after the E-Levy policy was rolled out. Because customers fear monies in their wallets will be taxed, they are now rushing to withdraw them. It is only after we explain the real issues to them so that they realize how the E-Levy truly works.

“The education didn’t go down well and we need to move from the media platforms and get to the people, explain to the what the E-Levy is really about and that will help our situation,” he told Happy98.9FM’s Don Kwabena Prah on the ‘Epa HoaDaben’ political talk show.

The 1.5percent E-Levy kicked off on Sunday, 1 May 2022 despite public objection.

The 5 transactions affected by the E-Levy include: momo transfers between users on same network, momo transfers between users on different networks, Transfers from bank accounts to momo accounts, Transfers from momo accounts to bank accounts and Inter-bank transfers using digital platforms including mobile applications.

The E-Levy upon its kick off was fraught with a number of challenges including the non-application of some exemptions from the tax.

Some social media users have, for instance, complained about the fact that transfers on the same or different networks or banks owned by the same user are attracting the tax, although they are not meant to.

Source: etvghana.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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