Friday, September 22, 2023
www.myinfo.com.gh
  • Home
  • News
  • Business
  • Sports
  • Features
  • World
  • History
  • Entertainment
  • Lifestyle
  • JobsNew
  • Others
    • Facts
    • Odd News
    • Health
    • Religion
    • Profiles
    • Relationship
    • Science & Technology
    • Students & Scholarships
No Result
View All Result
www.myinfo.com.gh
  • Home
  • News
  • Business
  • Sports
  • Features
  • World
  • History
  • Entertainment
  • Lifestyle
  • JobsNew
  • Others
    • Facts
    • Odd News
    • Health
    • Religion
    • Profiles
    • Relationship
    • Science & Technology
    • Students & Scholarships
No Result
View All Result
www.myinfo.com.gh
No Result
View All Result

Cameroonians fight their government over 0.2% Mobile Money tax

by Obed Makafui
4 January 2022
Mobile money is a thriving financial inclusion system in parts of Africa

Mobile money is a thriving financial inclusion system in parts of Africa

Share on FacebookShare on Twitter

Cameroonians started the New Year with a new tax and it was the mobile network operators that sent them a reminder of the particular tax.

That tax is the 0.2% Mobile Money tax, which is expected to be levied on the transfer and withdrawal of money via the platform.

RELATED POSTS

MML, EOCO sign MoU to combat MoMo fraud

3 easy steps to check who is on your MoMo ‘Next of Kin’

One network provider circulated the following message to subscribers: “Dear valued client, in the application of the Finance Law, starting 01 January 2022, a 0.2% tax is applied to transfer and withdrawals. Thanks for your understanding.”

A leading business news portal, Busines in Cameroon, summarized the tax as follows: “According to the 2022 finance law, the tax applies to transactions carried out through all the traceable technical platforms (like internet, mobile phone, wire order, telex, fax) except for bank transfers and electronic transactions carried out to pay tax and customs duties.

“The tax will also be applied to cash withdrawals from financial institutions or mobile telephony operators,” it added.

On social media, Cameroonians are livid at the tax with the reason that the mobile money component in particular was unfair in many ways.

One of the key voices against the tax is Rebecca Enonchong, a leader in African tech ecosystem, who tweeted as follows: “Can you imagine being charged a tax to withdraw your own cash out of your account? For millions of Cameroonians who hold their money in mobile money wallets, this became a reality on Jan.1.

“This tax is regressive and will slow financial inclusion. #EndMobileMoneyTax. #WeSayNo.”

Arrey Ntui, a security analyst with the Crisis Group also highlighted the draconian nature of the tax via a tweet: “Cameroon should pursue financial inclusion as cost of living skyrockets. The mobile money tax unfairly punishes Cameroon’s poorest people.

“Cheque and bank transfers have no similar tax. Over four million humanitarian aid needers rely mostly on mobile money,” he added.

Below are some reactions on Twitter

Can you imagine being charged a tax to withdraw your own cash out of your account?

For millions of Cameroonians who hold their money in mobile money wallets, this became a reality on Jan.1.

This tax is regressive and will slow financial inclusion#EndMobileMoneyTax #WeSayNo— Rebecca Enonchong (@africatechie) January 2, 2022

I want to send 100,000 F (+ withdrawal fees); that’s 101,800 F.

A. Sender
MTN fees = 300 F
Tax = 0.2% = 203.6 F

TOT = 102,303.6 F

B. Receiver
Gets 101,800 F and is taxed 0.2% AGAIN.

MTN Fees = 1,800 F
Tax = 203.6 F

Withdrawable = 99,796.4 F#EndMobileMoneyTax— Sahyuo BAD (@Sahyuo_) January 1, 2022

Government decides to put a tax on Mobile Money withdrawal and sending transactions

Me pic.twitter.com/oqxcakavfs— ONE KIND GUY ???????? ???? (@Tkthereal1) January 1, 2022

The new mobile money tax will especially hit the poorest, unbanked segments of Cameroon society. There is no such tax on wire transfers through banks. And it’s paid twice. Once to send. Once to receive.

And all for what? To pay for government excesses and corruption.— Rebecca Enonchong (@africatechie) January 1, 2022

To imagine that an insensitive government like the one in Yaounde, Cameroun has imposed severe hardship on the citizens then now 0.2% tax on mobile money transactions, This is unacceptable.#end0.2%MOMOtax.— Peter NGOMBA (@ngomba_peter) January 2, 2022

If we knew that our tax money would go to good use, most would not oppose it. But we know how much is squandered, not just in corruption but in inefficiencies. Do we really need 63 ministers? Do we really need 5 ministries for education? Did we really need to host AFCON?— Rebecca Enonchong (@africatechie) January 1, 2022

ghanaweb.com

ShareTweetShareSend
Previous Post

Owusu-Bempah’s claims against Opoku Onyinah false – GPCC

Next Post

Innocent children suffer when you go on strike – Otumfuo to Teachers

Related Posts

COP Maame Yaa Tiwaa Addo-Danquah and Shaibu Haruna signing the Mo

MML, EOCO sign MoU to combat MoMo fraud

28 July 2023

MobileMoney Limited (MML) and the Economic and Organised Crime Office (EOCO) have signed a Memorandum of Understanding (MoU) to address...

Mobile Money has improved the efficiency of cash transactions

3 easy steps to check who is on your MoMo ‘Next of Kin’

17 July 2023

With the introduction of Mobile Money platforms to the digital payment space, the efficiency of cash transactions has be been...

The Bank of Ghana Headquarters

MTN withdrawal of MoMo cash-out fee review due to BoG intervention – Sources

27 June 2023

MTN Mobile Money Limited Ghana on June 27 withdrew a plan to review the cash-out fee for mobile money transactions....

Digital payment platforms

MoMo withdrawal fees to be revised from July 1

26 June 2023

In an effort to inform its customers, MTN, a prominent telecommunications company, has announced a forthcoming modification to its mobile...

Next Post

Innocent children suffer when you go on strike – Otumfuo to Teachers

Teachers hold the key to national development - Otumfuo

TRENDING

See full list of protesters arrested on Day 1 of #OccupyJulorbiHouse protest

Kan Dapaah offered money and appointments to halt activism – Barker-Vormawor claims

Watch as heavily-armed police stop protesters from approaching Jubilee House

#OccupyJulorbiHouse, Nana Aba, Chief Imam and others trend amid pressure on Akufo-Addo to do better

#OccupyJulorBiHouse demo: No space is a no-go area for any Ghanaian – Abraham Amaliba

Ghana’s economy yet to see a recovery – Prof Mensah

Who We Are

We are an online platform highlighting political, facts, business, sports entertainment, lifestyle news as well connecting people with jobs, classified, online radio, and scholarship information.

Contact Us

Email: myinfogh@gmail.com




  • Advertise with Us
  • About Us
  • Contact Us

© 2020 Myinfo.com.gh

No Result
View All Result
  • Home
  • News
  • Business
  • Sports
  • Features
  • World
  • History
  • Entertainment
  • Lifestyle
  • Jobs
  • Odd News
  • Students & Scholarships
  • Facts
  • Science & Technology
  • Health
  • Religion
  • Profiles
  • Relationship

© 2020 Myinfo.com.gh