Mobile money operators are considering a strike in response to what they perceive as the Ghana Revenue Authority (GRA) imposing double taxation on their work.
In a statement released on March 20, 2024, the group expressed their concern over the imposition of E-levy on agent SIM cards by the Ghana Revenue Authority (GRA). They argue that this move would result in double taxation, as they are already paying a 10 per cent income tax on all transactions.
“This new levy, in addition to the existing 10% income tax on all transactions, has resulted in double taxation for our businesses, posing a severe threat to our financial sustainability,” the grouped noted.
They claim that despite their efforts to work with the GRA and find a resolution, they have not witnessed any significant progress. They express their concern, stating that the current situation is unsustainable and could potentially result in the loss of their entire investment due to the excessive burden of double taxation.
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“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,” the group indicated.
In response to their concerns, they have issued a strong warning, stating that if their issues are not addressed, they may be left with no choice but to close their shops and take to the streets in protest to protect their capital and livelihoods.
READ FULL PRESS RELEASE BELOW:
PRESS RELEASE
URGENT APPEAL TO ADDRESS DOUBLE TAXATION ON MOBILE MONEY AGENTS
The Mobile Money Advocacy Group, Ghana and the entire Momo Agents across the length and breadth of Ghana, write to register our deep disappointment and urgent concern regarding the imposition of the E-levy on agent SIM cards by the Ghana Revenue Authority (GRA).
This new levy, in addition to the existing 10% income tax on all transactions, has resulted in double taxation for our businesses, posing a severe threat to our financial sustainability.
Despite engaging with the GRA to address our concerns, we are yet to see any meaningful solution. The current situation is untenable, and if not addressed promptly, we risk losing all our capital due to the heavy burden of double taxation.