MoMo Agents Threaten Demo Over “Double Taxation”

The Mobile Money Advocacy Group (MOMAG) is threatening to hit the streets over what they call double taxation by the Ghana Revenue Authority (GRA).

According to the group of Mobile Money (MoMo) agents in the country, their businesses will soon fold up due to the recent imposition of E-levy on agent SIM cards and the existing 10% income tax on all transactions by the Authority.

They argue that the two taxes are tantamount to double taxation and pose a significant burden on agents as well as threats to their capital.

“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.”

According to the group, efforts to reason with the GRA have proven unsuccessful and thus their call for the intervention of the Ministry of Finance.

They are willing to embark on a protest if their concerns are disregarded.

“If our concerns are not adequately addressed, we will have no option but to consider shutting down our shops and go on demonstrations to safeguard our capital and livelihoods. This would have far-reaching implications for the mobile money industry and the economy at large.”

It added, “We urge you to act swiftly to prevent the potential closure of shops of Mobile Money Agent/ Agency Banking and to safeguard the livelihoods of countless individuals who depend on this sector for their income.”