Business & Finance

How To Use MOMO & Swerve The Tax- Fighters Movement Teaches

The Economic Fighters League (EFL) has since the announcement of the Electronic Transactions Levy by the Finance Minister, bargained for nothing more or less than a “no MOMO Tax”.

That is, the group wants the government to scrap the 1.75% levy it seeks to impose on all mobile money payments, bank transfers, merchant payments, and inward remittances with a GHc100 threshold.

Since the government is bent on implementing this policy, the group has figured out how to use Mobile Money (MOMO) without paying the tax.

“If you send GHC 300 to your mother’s MoMo number, you will be charged 1% ie GHC 3 by MTN then charged 1.75% i.e. GHC 5.25 by the government. Then when she withdraws, she will be charged GHC 3. So on one transaction of 300, total deductions will be GHC 11.25.

“Do this instead. Let her go to a MoMo vendor and mention your number to the vendor. Allow Cash-Out wherever you are and give your ID number. The vendor initiates withdrawal and it comes to you for approval wherever you are. You approve. Your mother receives cash. This way you avoid MTN charges on transfer and you avoid the wicked #MoMoTax. You only pay GHC 3 on GH 300 instead of 11.25 cedis”, a statement from the group said.

The Fighters believe citizens have the duty of figuring out how to swerve this tax. They are also calling on the general public to share ideas on how to use the MOMO yet, sidestep the levy that accompanies it.

“We owe a duty to ourselves to make sure these wicked charges don’t finish us. It is part of the resistance. What other innovative ways should we adopt? We the people are on our own. Drop your strategy and let’s kill this banza tax.”

Source: Fuseini

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