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Sierra Leone’s mobile money providers Orange and Africell, have begun implementation of the Goods and Services Tax (GST) on all their financial services.
The implementation took effect today October 15, 2023, in line with the recently introduced Finance Act of 2023.
For consumers, the introduction of GST means it will now cost more money to use mobile money services.
According to Alfred Akibo-Betts, GST on fee-based financial services, which includes fees and commissions charged by banks, was part of the original GST Act 2009. However, the Finance Act 2021 made these supplies exempt. Banks had already implemented the GST charge a few months ago.
“It is important to note that GST will only be charged on the fee or commission charged by banks and mobile companies and not on the entire transaction amount.” He said.
🔵 Clarification on Africell Cash Out Charges with GST🔵
❕For 100: Old Charge: 3.05, New Charge with 15% GST: 3.51
❕For 500: Old Charge: 11, New Charge with 15% GST: 12.65
❕For 1000: Old Charge: 20, New Charge with 15% GST: 23
❕For 2000: Old Charge: 35, New Charge with 15% GST: 40.25
🟠 Clarification on Orange Cash Out Charges with GST 🟠
❕For 100: Old Charge: 3.05, New Charge with 15% GST: 3.51
❕For 500: Old Charge: 11.5, New Charge with 15% GST: 13.23
❕For 1000: Old Charge: 26.1, New Charge with 15% GST: 30.02
❕For 2000: Old Charge: 43.5, New Charge with 15% GST: 50.03
Kindly note that the 15% GST is applied on the transaction fees, NOT on the cashout amount.
Woa😲😲😲
Ooo salon sorry everyday things are getting harder
Poverty continue everyday in Sierra Leone 😭😭😭
What’s the chargers about, for us the costumer that are using orange and Alfrie money or for the internet workers
There will be also an increase for some commodity because most of the market people use transaction service but anyway our representative are not talking for us every day things change some times we need to look back how it was
Dis na real alaky 4 wi na salon
Ooo salone everyday things are going.
Oooo this country God help we
Where are we heading to as a nation.
This writer needs to revisit his last statement, what generates the transaction fee? You can ridicule a mediocre and not an enlightened one. Are the rates the same as compared to the previous transaction cost?
And you have the NRA commissioner saying the last time that there will be no increment on the transaction cost as the act had been in force since January this year,
We want to hear him on this, or better still to reverse the whole 15% adjustment if what he said last is genuine.
This is another unnecessary burden and an exacerbation of the cost of living on the proverbial man.
Can’t this Government try to explore other income generating sources than to worsen the poor man’s predicaments in their mobile money transaction? This is distressing.
Oooh saloon where are we heading to
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What provision have been put in place for the lay man , is this what you guys promise the nation in everyday increase in tariffs and cost of living. Why not in salaries.
𝐎𝐡!𝐆𝐨𝐝 𝐬𝐚𝐯𝐞 𝐮𝐬 𝐟𝐫𝐨𝐦 𝐭𝐡𝐢𝐬 𝐩𝐫𝐨𝐛𝐥𝐞𝐦 𝐰𝐡𝐲 𝐚𝐫𝐞 𝐰𝐞 𝐡𝐚𝐯𝐢𝐧𝐠 𝐫𝐞𝐩𝐫𝐞𝐬𝐞𝐧𝐭𝐚𝐭𝐢𝐯𝐞 𝐟𝐨𝐫?𝐢𝐬 𝐢𝐭 𝐭𝐫𝐮𝐞 𝐭𝐡𝐚𝐭 𝐭𝐡𝐞𝐲 𝐚𝐫𝐞 𝐮𝐩 𝐭𝐡𝐞𝐫𝐞 𝐭𝐨 𝐫𝐞𝐩𝐫𝐞𝐬𝐞𝐧𝐭 𝐭𝐡𝐞 𝐦𝐚𝐬𝐬𝐞𝐬𝐬 𝐨𝐫 𝐭𝐡𝐞𝐦𝐬𝐞𝐥𝐯𝐞𝐬 𝐨𝐡 𝐡𝐞𝐥𝐩 𝐮𝐬.
I will try to disconnect my account from orange immediately coz man gainse
Only God can judge them