In accordance with the provisions of the tax code, in operation in 2021, Benin’s main operator applies the 5% tax on money transfers. It is on its Facebook page that MTN Benin sent a message to its customers to reassure them of the tariff schedules.
It is this Friday, March 11 that the new 5% tax will come into force in Benin. It will be added to the withdrawal and transfer fees via Mobile Money, indicates the MTN operator to its subscribers. Following this announcement of the increase in money transfers, the two operators namely MTN Benin, Moov Africa Benin tried to reassure their customers. The South African giant claims that it is to apply the new General Tax Code (CGI).
This is a contributory tax on mobile financial services. For cash withdrawals ranging from 5,000 to 20,000, you must naturally pay 100 francs plus the amount of the tax which is 16 CFA francs. The amount of the tax is 28 FCFA for the withdrawal of an amount ranging from 20,001 to 50,000 FCFA, and 61 FCFA for those who wish to withdraw between 75,001 and 100,000. For 500,000 FCFA, the amount of the tax is fixed at 163 francs and at 305 francs for the withdrawal of one million FCFA. With regard to money transfers, the tax is set at 4 FCFA for a transfer of 1000 FCFA.
According to the director general of taxes, Nicolas Yenoussi, the 5% tax on electronic services is effectively extended to the transfer of money. In Benin, these new tax measures imposed on citizens, businesses; and relating to the exercise of activities in various sectors of professional life. This announcement is not to the liking of consumers who find this measure incomprehensible.