I will stop using MOMO because of E-levy - DKB
Ghanaian comedian, DKB, says he will deactivate his Mobile Money account because of the impending implementation of the Electronic Transactions Levey (E-Levy).
Ghanaian comedian, DKB, says he will deactivate his Mobile Money account because of the impending implementation of the Electronic Transactions Levey (E-Levy).
Known officially as Derrick Kobina Bonney, DKB expressed these sentiments in an interview with Kessben Fm’s Preko Dankwa, Tuesday, April 12, 2022.
“I will dissolve my Momo account,” he said.
When the host pointed out that the tax is to help develop the country DKB said the government should increase it for Ghanaians to know they are truly sacrificing for the country.
“They should make E-levy 70 percent then we will know we are helping the country. Why are they taxing our wallets? The reason why we call it a wallet is because all the taxes have already been deducted. They should rather tax everything.”
The E-levy is expected to bring about $1 billion to the state’s coffers. However, DKB added that, if the state prioritized the tourism sector, Ghana could get more than what the country is anticipating from the E-Levy.
“Do you know tourism gives us $2 billion? That’s almost ₵8 billion. We can get more from Tourism if we focus it than the amount E-levy will give us.”
According to the comedian, it is hard to trust the government when they say they will account for every amount it will get from the E-Levy.
“The Audit Service has said we have a leakage of ₵12 billion. You haven’t blocked the leakage but you have given them a bigger basket to fetch water with. Are there not going to bigger leakages?
“The same person who said they shouldn’t tax MOMO is now taxing MOMO and you want me to be happy? Make E-levy 75% then we will know we are helping the country. If somethings are not right, we will say it.”
He further indicated that, the doesn’t want the country to retrogress but thinks the tax on electronic transactions is not just.
“It’s as if when someone share their genuine thoughts they are against the country. How am I against the country? I’m uncomfortable with it because it is not fair.”
On 17th November 2021, the Minister for Finance announced during the presentation of the 2022 Budget Statement and Economic Policy of Government to the Parliament of Ghana, the introduction of an “Electronic Transaction Levy” of 1.75 percent on electronic transactions above GHs 100 (US$16).
According to the Ministry of Finance, the levy will be applied to mobile money payments, bank transfers, merchant payments, and inward remittances. In March 2022, Ghana's Parliament approved the bill with 1.50 percent taxation on electronic money transfers. The President assented the Bill into law swiftly.
The implementation of the levy will begin in May, 2022.
