Telecom firms paid ¢6.07bn as taxes to government in 2022
The telecommunication industry paid a total of ¢6.07 billion as taxes to the government and allied agencies in 2022, the 2022 Mobile Industry Transparency Initiative has revealed.
They include ¢1.27 billion in Corporate Tax, ¢9.22.9 million as Value Added Tax and ¢482.8 million as Electronic Transfer Levy (E-Levy).
This contribution, according to the Ghana Chamber of Telecommunications forms approximately 8.02% of the government of Ghana’s 2022 tax and other revenues.
The Telecoms Chamber also said the industry’s contribution to Gross Domestic Product (GDP) stood at 2.27% in 2022, whilst the industry’s contribution to the Ghana Revenue Authority stood at 7.28%.
On mobile financial services, the active e-money customers stood at 20.38 million in 2022.
“Mobile money is the key driver and enabler of Ghana’s cashlite and financial inclusion agenda. Beyond extending the reach of financial services, it provides high employment, formalising the informal economy and supports effective monetary policy transactions”, it stated
It continued that Ghana’s mobile sector enables about 40 million mobile connections, allowing the population to access the benefits of mobile communications, adding, mobile penetration impacts jobs, Gross Domestic Product, tax revenues, investments, productivity and socio-economic growth.
Meanwhile, the Telecom Chamber says it expected some tax reliefs for manufacturers of mobile devices in the 2024 Budget presented by Finance Minister, Ken Ofori Atta.
According to its Chief Executive, Dr. Ing. Kenneth Ashigbey, the industry needed this cushioning considering the fact that the telecommunications industry is contributing heavily towards revenue generation through the use of mobile services. He spoke at the launch of the 2022 Mobile Industry Transparency Initiative.
Source: Ghana News
