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The principle of taxing MoMo transactions and its unintended consequences


“I contend that a country that tries to tax itself into prosperity is like a man standing in a bucket trying to lift himself up by the handle.” (Sir Winston Churchill, 1904)
One of the basic principles of taxation is fairness and neutrality. This principle demands that taxes should not favour any one group over another and should not be designed to influence individual decision making. To understand this principle, imagine two (2) primary school teachers, earning the same salary would be paying different levels of taxes provided one uses their mobile money account or bank account. This is only because one of them decided to use mobile money rather than the known traditional means. ....

Winston Churchill , Ghana Chamber , Development Strategy , National Financial Inclusion , Financial Services , Ghana Revenue Authority , Digital Financial Services , Sir Winston Churchill , Sub Saharan Africa , Value Added Tax Act , Electronic Money Issuers , Withholding Taxes , Ghana Revenue , Mobile Financial Services , Operationalizing Mobile Money , Vodafone Cash , Digital Financial Services Policy , Cash Lite Roadmap , Mobile Money , Mobile Financial , வின்ஸ்டன் சர்ச்சில் , கானா அறை , வளர்ச்சி மூலோபாயம் , தேசிய நிதி சேர்த்தல் , நிதி சேவைகள் , கானா வருவாய் அதிகாரம் ,

BoG to unwind countercyclical measures in financial sector- Governor


BoG to unwind countercyclical measures in financial sector- Governor
22nd Dec 2020    |    Source: GNA
Dr Ernest Addison, Governor of the Bank of Ghana has hinted of plans to undo all countercyclical measures implemented in the financial sector due to the COVID-19 pandemic to allow for the proper functioning of the system.
He has, therefore, charged banks to remain vigilant, upgrade staff capabilities and improve the governance and risk culture to avert any shocks and maintain the vibrancy of the sector.
Over the next three years, in the aftermath of the pandemic, the Bank of Ghana will carefully unwind the countercyclical measures implemented and allow the financial system to function without the regulatory forbearance put into place due to the pandemic, he said. ....

Ernest Addison , University Of Ghana Alumni , Governor Of The Bank , Central Bank , Development Strategy , National Financial Inclusion , Digital Financial Services , Ghana Alumni , Digital Financial Services Policy , Cash Lite Roadmap , Market Access Countries , பல்கலைக்கழகம் ஆஃப் கானா முன்னாள் மாணவர்கள் , கவர்னர் ஆஃப் தி வங்கி , மைய வங்கி , வளர்ச்சி மூலோபாயம் , தேசிய நிதி சேர்த்தல் , டிஜிட்டல் நிதி சேவைகள் , கானா முன்னாள் மாணவர்கள் , டிஜிட்டல் நிதி சேவைகள் பாலிஸீ , பணம் லைட் சாலை வரைபடம் , சந்தை நுழைவு நாடுகள் ,

BoG To Unwind Countercyclical Measures In Financial Sector - Governor


 
Dr Ernest Addison, Governor of the Bank of Ghana has hinted of plans to undo all countercyclical measures implemented in the financial sector due to the COVID-19 pandemic to allow for the proper functioning of the system.
He has, therefore, charged banks to remain vigilant, upgrade staff capabilities and improve the governance and risk culture to avert any shocks and maintain the vibrancy of the sector.
“Over the next three years, in the aftermath of the pandemic, the Bank of Ghana will carefully unwind the countercyclical measures implemented and allow the financial system to function without the regulatory forbearance put into place due to the pandemic,” he said. ....

Ernest Addison , University Of Ghana Alumni , Governor Of The Bank , Central Bank , Development Strategy , National Financial Inclusion , Digital Financial Services , Ghana Alumni , Digital Financial Services Policy , Cash Lite Roadmap , Market Access Countries , பல்கலைக்கழகம் ஆஃப் கானா முன்னாள் மாணவர்கள் , கவர்னர் ஆஃப் தி வங்கி , மைய வங்கி , வளர்ச்சி மூலோபாயம் , தேசிய நிதி சேர்த்தல் , டிஜிட்டல் நிதி சேவைகள் , கானா முன்னாள் மாணவர்கள் , டிஜிட்டல் நிதி சேவைகள் பாலிஸீ , பணம் லைட் சாலை வரைபடம் , சந்தை நுழைவு நாடுகள் ,