Ghanaian Telecommunication companies are yet to implement the 1 per cent Electronic Transaction Levy announced by the government in the 2023 Budget.
The government of Ghana directed the Telecommunication Companies to charge a 1.5% Electronic Levy fee. Parliament approved the reduction in the newly approved 2023 budget.
The government presenting the 2023 Budget and Economic Policy Statement, reviewed the 1.5 per cent electronic transaction levy downwards to 1 per cent effective January 2023.
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According to Citi Fm’s Citi News’ Philip Nii Lartey are yet to implement the rate. The telcos are still deducting the 1.5% charges.
Joshua Edmonson, Deputy National Public Relations Officer of the Mobile Money Association of Ghana, revealed the revised rate will likely take effect in the next few days.
It has not yet been implemented, although it has been announced we are hopeful it will take effect in the next few days to come. I am sure the telcos will have to do something to their database before implementation but the good news is that it has been announced and in the next few days it will take effect.
The levy had failed to meet all of its revenue targets after its introduction. Before the implementation of the policy, there was a lot of opposition against the policy.
After the implementation of the levy, telcos registered over 300,000 losses of mobile money subscribers in April 2022. Before you go, kindly Follow Us for more exclusive news updates. We are also on all social media platforms. Kindly Let us know what you think in the comment section.
