There is no need for panic withdrawals because MoMo wallet balances are exempt from the e-levy – MoF

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Following the implementation of the e-levy on Sunday, May 1, the Ministry of Finance (MoF) has urged the general public not to engage in panic withdrawals.

In a tweet, the Ministry stated that Mobile Money wallet balances are exempt from the e-levy.

https://twitter.com/MoF_Ghana/status/1522955033633034241?s=20&t=eQ8iSNxdolPtl6mbzt0u7A

Mr. Evans Otumfuo, General Secretary of the Mobile Money Agents Association of Ghana (MMAAG), previously blamed the Ministry of Finance for the panic withdrawal situation.

Otumfuo attributed the situation to a lack of policy education.

“The panic response from our customers is very disturbing, but we understand them because there was a lack of education,” he said on 3FM’s Sunrise show with Alfred Ocansey.

https://twitter.com/3fm927/status/1510612428920442889?s=20&t=HacXN3JERyvr4FgS_UtUVg

The Ghana Revenue Authority (GRA) said it is available to receive complaints regarding the implementation of the e-levy policy.

Florence Otoo, Head of Communications and Public Affairs at the GRA told TV3 in interview that the authority has created hotlines through which the public can reach the GRA to file their complaints.

“If you complain to your charging entity or you have some difficulties or challenges or you have been deducted the e-levy in a wrongful manner and you are not satisfied with what your entity is doing, GRA is also available.

“We have hotlines, we have our toll free line that is 0800900110. If you call that number we will be able to make sure that we are addressing your challenges,” she said.

Since the start of the policy, some customers have reported cases of wrong deductions since the policy started.

But the authority earlier issued guidelines for reversal of wrong deductions. In a statement, the GRA said “Under this phased approach it has been decided that all ‘on-net’ and ‘off-net’ transfers including transfer to own account shall be subject to the e-levy.

“This is because of the lack of visibility across all networks due to the phased approach. However, charging entities are to exempt ‘on-net’ transfers between accounts owned by the same person where the identity of the person can be determined”.

The GRA said it is collating all the feed backs to work on them.

But Isaac Kwabena Amoako, a member of the e-levy Technical Committee of the GRA said on the News 360 on TV3 Sunday May 1,that “On day one of implementation we have been taking feedbacks.

“The category of feed backs that did not meet our design is the fact that people transferring from one network to another network, for some of them they are being charged.

“That seem to be the most prevalent technical issue that is being reported. We have collated some of these concerns, we are talking to the charging entities so that they correct.

“We believe that between now and the following day some of these of these corrections will be made.”

“We have issued out notices that anyone who has genuine or valid reversals they should listen to them, use the current approach that they use for reversals which is 15 working days to collate these concerns , those who have been wrongfully charged should be refunded,” he added.

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