Profit On Mobile Money Operation To Be Taxed Soon – Gov’t Hints

Profit On Mobile Money Operation To Be Taxed Soon – Gov’t Hints

The Minister of Communications, Ursula Owusu Ekuful is advocating for the government to tax the fees and commissions mobile money operators earn when they conduct mobile money transactions.

At a press conference in Accra, the Minister said the operators generate some GH¢71 million monthly on the transactions, yet that money remains untaxed.

According to her, it should be possible for government to explore revenue opportunities in the mobile money ecosystem suggesting that the mobile money companies should brace up for possible taxation.

‘’Further breakdowns of transaction types for informed policy-making decisions are also possible with the platform… of particular interest to me and this is where the finance minister and I diverge, because I think that the GHS71 million which is generated by the operators in transaction fees they ought to pay taxes on that revenue to the state; we are still having conversations about that,” she said.

“Nobody is talking about actual mobile money transactions that are conducted by individuals. However, I am interested in the revenues that the mobile network operators earn from the transaction fees that own-users of the services pay to them. And I think the GRA [Ghana Revenue Authority] ought to have a conversation with them about that,” she added.

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