The finance minister, Hon Ken Ofori Atta on the 17th of November 2021 presented the 2022 budget to Ghanaians and one of the ways government is planning on making money is through the introduction of 1.75% mobile money tax in the country. This has caused so much stir in the country as Ghanaians see this initiative to be outrageous and unfair.
Ghanaians use momo for so many different purposes without making profit from it as tax is known to be. Parents use momo to send monies to their wards in school for fees and other school expenses, others for business transactions and more. If the student who happens to be in school is now going to be taxed for using momo just as a business man, that will be so unfair of the government on the part of students and even the unemployed in the country.
The Senior Presidential Advisor, Hon Yaw Osafo-Marfo has therefore advised all Ghanaians on how to escape this 1.75% tax on momo transactions. He said Ghanaians should act wisely by withdrawing below Ghc100 in order to escape the tax. But the question is, what if you need a huge amount urgently to transact business or pay fees and it requires you withdraw above the Ghc100.
Even though withdrawing below Ghc100 can help you save yourself from paying extra taxes, not everyone can enjoy this. Something needs to be done about it anyways.
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