The main purpose of this tax on momo transactions is to raise revenue to persecute the country’s development agenda.
The levy is contained in the 2022 budget presented by Finance Minister, Mr Ken Ofori-Atta.
He said when effective, the levy will not affect people whose monthly transactions totaled GH¢3,000.
He said the levy will be called Electronic Transaction Levy or E-Levy and a portion of the proceeds from it will be used to support entrepreneurship, youth employment, cyber security, digital and road infrastructure, among others.
