Mobile money has improved the efficiency of money transactions

The Ghana Revenue Authority (GRA) has revealed it will engage the Finance Ministry to resolve key anomalies in the Electronic Transactions Levy (E-levy), which could significantly impact some Ghanaians when the tax is implemented.

A Principal Revenue Officer and Head of the Project Management Unit for GRA, Isaac Kobina Amoako, admitted that salaries paid through mobile money will attract E-levy, even though the salary would have already been taxed.

He explained that the current framework created by the law, as it stands, does not distinguish a corporate mobile money account and an individual mobile money account.

Mr Amoako added that potential challenges that may accompany this situation have come to the attention of the Authority; hence, all such concerns will be forwarded to the Finance Ministry with the hopes of having them addressed.

“That is something that has come to our attention; we’ve referred it to our superiors to look at it. But, for now, the law seems to have captured everybody, including disbursements from corporate mobile accounts. In fact, for the banks, the disbursements from corporate accounts were not mentioned, so it is clear that that is exempt.

“But in the MoMo, there was no distinction between a corporate MoMo account and individual MoMo account; so, that is where we’ve received some kind of feedback from the public that it will affect salaries, loan disbursements, and so many other things, which we’ve referred to the [Finance] Ministry,” he said.

The Authority, however, explained the scope of exemptions and how persons who transfer monies between their accounts can avoid being taxed.