The Minority Spokesperson on Finance, Mr. Casiel Ato Forson has said government’s intention to tax Mobile Money transaction will mean taxing people’s savings.
He explained that people keep money on their mobile money accounts as savings. Therefore any attempt to tax that transaction will mean taxing people’s savings.
The Finance Minister, Mr. Ken Ofori-Atta announced a new levy to be charged by government in 2022 on all electronic transactions to widen the tax net and rope in the informal sector.
“It is becoming clear there exists enormous potential to increase tax revenues by bringing into the tax bracket, transactions that could be best defined as being undertaken in the ‘informal economy’,” Mr Ofori-Atta
