The Mobile Money Advocacy Group Ghana (MOMAG) and mobile money agents have voiced their disappointment with the Ghana Revenue Authority (GRA) over the imposition of the E-levy on agent SIM cards, citing it as leading to double taxation for their businesses.

In a statement issued on Wednesday, March 20, 2024, MOMAG stated that despite engaging with the GRA to address their concerns, no satisfactory outcome has been reached.

The introduction of the new levy, combined with the existing 10% income tax on all transactions, is posing a threat to the financial viability of their businesses, according to MOMAG.

“The current situation is untenable, and if not addressed promptly, we risk losing all our capital due to the heavy burden of double taxation,” the statement read.

The Association is urging the government, especially the Ministry of Finance, and other pertinent stakeholders to step in and rectify the situation with the GRA.

The statement, endorsed by the National Secretary, Kingsley J. Amoako-Atta, further highlighted that the imposition of the E-levy on Agent SIM cards and the 1% levy on all Push and Pull transactions from banks are placing an untenable financial strain on mobile money agents.

MOMAG has issued a warning of potential shop closures and planned demonstrations if their grievances are not promptly resolved.