Radio Gold 90.5 FM
  • Home
  • News
  • Politics
  • Sports
  • Business
  • Technology
  • Education
  • Opinion
  • World
  • Insurance
  • Radio
No Result
View All Result
  • Home
  • News
  • Politics
  • Sports
  • Business
  • Technology
  • Education
  • Opinion
  • World
  • Insurance
  • Radio
No Result
View All Result
Radio Gold 90.5 FM
No Result
View All Result
Home Top Story

Cameroonians fight their government over 0.2% Mobile Money tax

by Ahmed Kabore
January 4, 2022
in Top Story
Reading Time: 3 mins read
0
Mobile money is a thriving financial inclusion system in parts of Africa
55
SHARES
170
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT

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.

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.”

ADVERTISEMENT

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.

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

Tags: CammeroonMomo Tax
Share55TweetSendShare
Previous Post

MTN To Increase Prices Of Fibre Broadband, TurboNet bundles

Next Post

Freight forwarders kick against retrospective application of benchmark value reversal

Related Posts

TESCON
News

UENR TESCON Patron Appointed by Akufo-Addo as Electoral Commissioner

March 21, 2023
Mahama
Politics

Mahama reveals why he stopped attending Independence Day celebration

March 6, 2023
John Mahama
News

It’s a bit silly – John Mahama blasts those calling on him to refund ex-gratia

March 5, 2023
Load More
Next Post
Freight forwarders kick against retrospective application of benchmark value reversal

Freight forwarders kick against retrospective application of benchmark value reversal

Akufo-Addo

It's bad teachers can't own houses like they did 60yrs ago, I'm building 10,000 houses for them- Akufo-Addo

NCA meets telcos to address long queues associated with SIM card re-registration – Ken Ashigbey

NCA meets telcos to address long queues associated with SIM card re-registration – Ken Ashigbey

  • Some Ashaiman ladies selling their egg

    Some Ashaiman ladies selling their egg, ovaries for Ghc3000 or iPhone with portrait imagery — Report

    239 shares
    Share 239 Tweet 0
  • From Tears to Joy, Kwabena Yeboah Smiles Again, Africa to Get 10 Places At The World Cup.

    73 shares
    Share 73 Tweet 0
  • VIDEO: Details about Lake Bosomtwe s3xtape emerge as bonking lovers get stuck

    55 shares
    Share 55 Tweet 0
  • Headmistress withheld results as Tyrone Marghuy tops the class in Science & Elective Maths, despite admission woes

    244 shares
    Share 244 Tweet 0
  • Am surprised at how everybody is now talking about Paul’s alleged cheating- Barker

    19 shares
    Share 19 Tweet 0

radio gold 90.5 fm is one of the first private radio station in Ghana. radio gold 90.5 fm Your Power Station

Recent Posts
  • ‘Sad what politics can do to a fine mind’ – Mahama slams Akomea May 26, 2023
  • You will lead Ghana to a future of prosperity, development, and unity – Concerned NDC members in UK and Ireland congratulates JDM May 15, 2023
  • Pres AKufo-Addo announces moves to cut taxes on locally assembled vehicles  May 4, 2023

© 2018 Radio Gold 90.5 fm –  All rights reserved. Own and operated by Network Broadcasting Company Ltd.

  • Contact
  • Privacy Policy
  • Terms and Conditions
  • Advertise
  • Disclaimer
No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2023 Radio Gold 90.5 fm - Operated and own by NewbyNetwork Broadcasting Company Ltd Radio Gold.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT