Savings isn’t taxed anywhere in the world - Edudzi Tameklo

'Momo' is as good as money under your pillow, Edudzi Tameklo

E-Levy against government’s own policy objectives, Lawyer

E-Levy would deter people from electronic transactions, Lawyer

A member of the NDC legal and communication team, Godwin Edudzi Tameklo, has said the government’s plan to implement the electronic transaction levy (E-Levy) would imply that it wants to tax the

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Speaking on Joy New’s Newsfile this weekend, which was monitored by GhanaWeb, Edudzi Tameklo said ‘nowhere in the world are savings taxed’ because taxes have already been taken from incomes.

“We have also made the point that when money is in your wallet, it is as good as money under your pillow, it is savings. Nowhere on earth is savings taxed. We do not tax savings it is not income.

“So, to suggest that by moving your salary into your momo (mobile money) wallet, you are going to pay for it, when you transfer that money to your mother inside the village you are going to pay for it, is wrong.”

The lawyer further stated that government’s plan to implement the E-Levey was also against its own policy objectives.

According to him, the levy would hurt the government’s aim of moving Ghana to a cash-light economy.

“This is a government that says they moving the country into a digital economy and that they want this economy to be cash light and not cash heavy in terms of how we manage our transactions.

“Now if you are going to tax people’s 'momo', what you are basically doing is to serve as a disincentive for people to use electronic means of transitions. So, on that principle alone, we are opposed to it,” he said.