Education
Very Reliable: How To Safely Bypass The Government 1.5% Charges On Momo Transfers.
Parliament on Tuesday, March 29, 2022, passed the Electronic transfer levy after the minority boycotted proceedings as a sign of their non-acceptance of the levy.
However, the bill which when implemented will ensure that all electronic financial transactions a charged a 1.5% tax is expected to help the government create more jobs and boost the country’s road infrastructure.
President Nana Akufo-Addo has already appended his signature on the bill to become law and is expected to start in May 2022.
Meanwhile, the Minority in Parliament is currently contesting the validity of the passage of the bill as they say a quorum was not obtained in parliament before the bill was passed.
E-levy changes
HOW TO BYPASS THE GOVERNMENT 1.5% CHARGES ON MOMO TRANSFER!
How To Safely Bypass The Government 1.5% Charges On Momo Transfers.
We are here tp discuss on some of the ways you can protect your money in your momo account from MoMoTax and MoMo charges.
We have to look at some of the diverse ways we can help those who can’t afford to pay much.
Here is one of the ways we can go about to reduce the tax and charges on the money you send and receive.
If you send GHC 300 to your mother’s MoMo number, you will be charged 1% ie GHC 3 by MTN then charged 1.75% ie GHC 5.25 by government making 8.25. Then when she withdraws, she will be charged GHC 3. So on one transaction of 300, total deductions will be GHC11.25.
Go with this method instead. Let the person go to the MoMo vendor and mention your number to the vendor. Allow Cash Out wherever you are and give your ID number. The vendor initiates withdrawal and it comes to you for approval wherever you are. You approve. The person receives cash. This way you avoid MTN charges on transfer and the MoMoTax
You only pay GHC 3 on GH 300 instead of 11.25 cedis.
If you have any others means to help the less privileged drop it at the comment section and we will add it up here.
source
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