Connect with us

Hi, what are you looking for?


1.75% momo tax reverses gains made in banking sector’- Ex-Deputy Finance Minister

Finance Minister defends Agyeman-Manu, asks for sympathy

‘1.75% momo tax reverses gains made in banking sector’- Ex-Deputy Finance Minister

“You are collapsing the Mobile Money sector, your momo tax reverses all the gains made in banking sector, if my constituents asked me that Ato send me my children’s school fees, it means NPP government will deduct 1.75% tax on the mobile money transactions I will make, that’s insensitive”, Former Deputy Finance Minister Dr. Ato Cassiel Forson reacted to Ghana’s 2022 Budget and Economic Policy of Ghana presented to parliament on Wednesday 17 November 2021 in Accra.

Finance Minister Ken Ofori-Atta, presenting fiscal Policy Statement to Parliament imposed 1.75% tax on mobile money and other digital transactions.

But, in a sharp rebuttal to the new tax, the Minority Spokesperson on Finance Dr. Cassiel Ato Forson said “Government has imposed 17 different taxes, poverty and unemployment is on the rise. The best thing to do is to take the exemptions out but the government has imposed additional taxes including momo”.

“What pains me is that the entire value chain including the telcos, mobile money merchants take only 1% but government government is taking 1.75% …so who is the owner of the business…the momo merchant or NPP government?”.

Meanwhile, another Former Deputy Finance Minister Kweku Kwarteng said “Let’s wait for legislation to see how the new tax policies will be implemented. Although Ato Forson has made some legitimate points, we have to wait to see how the new tax will be implemented because there can be some exemptions”

He noted that “I’m the Chairman of the Finance Committee of Parliament and the budget has been read but I will wait for them to bring details to parliament and we look at it. Don’t be in a haste. There can be exemptions on the momo tax”.


There is a good reason why you should support the African Editors. Not everyone can afford to pay for news right now. That is why we keep our journalism open for everyone to read, including in Ghana. If this is you, please continue to read for free. But if you are able to, then there are three good reasons to support us today.

1. Our quality, journalism is a scrutinising force at a time when the rich and powerful are getting away with more and more.

2. We are independent and have no billionaire owner pulling the strings, so your money directly powers our reporting.

3. It doesn’t cost much, and takes less time than it took to read this message.

Help power the African Editors' journalism for the years to come, whether with a small sum or a larger one. If you can, please support us on a monthly basis from just 1 Ghana Cedi through mobile money number: 0599896099/ +23359989609 and you can be rest assured that you’re making a big impact every single month in support of open, independent journalism. Thank you.

Click to comment

Leave a Reply

You May Also Like


Neglected tropical diseases rising in E/R- GHS Eastern Regional Health Directorate says there is disturbing increase in cases of neglected tropical Diseases in the...


At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos.


Kagame Tells Europe that Africa Doesn’t Need Adult Supervision but Fair Trade.    There is a good reason why you should support the African...


Daasebre Oti Boateng introduces Root-Based Model to Akufo-Addo, Bawumia, commends them for 2021 Census & Covid-19 fight Omanhene of New Juaben, Chancellor of All...

Copyright © 2023, Ltd was developed by Wordswar Technology & Investment, Inc. Contact us on +233246187160

%d bloggers like this: