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Orange Money New Tariff Guide With 15% GST


Orange Money, the leading mobile money transaction services in Sierra Leone has made clarifications to its customers on the new 15% GST increment on its services.

The 15% GST increment on all Orange Money transactions came into effect on Sunday 15th October 2023 which sparked contravenes among customers for lack of better understanding of the new tariff.

According to Orange Money, the cash-out fee of 1-14.99 is 0.45 with a GST of 0.07 and a total fee of 0.52, while 15-29.99 fee is 0.97 with a GST of 0.12 and a total fee of 0.91.



Check the full list below:



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15% GST Takes Effect on Orange Money And AfriMoney Cash Out Charges


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.



 

🔵 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.



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Implementation of GST on Mobile Money Services to Begin on October 15


Leading mobile money providers in Sierra Leone, Orange and Africell, have announced a new date for the implementation of the Goods and Services Tax (GST) on all their financial services.

Set to begin on October 15, 2023, this move is in direct response to the recently introduced Finance Act of 2023.

Africell relayed the forthcoming changes through an announcement which stated, “As of 15th October they will be updating all Mobile Money Fees to reflect GST. This adjustment will take effect on the 15th of October 2023 and this is in accordance with the Finance Act of 2023…”



Orange also shared a message to its customers saying: “Dear Customer, Please note that in compliance with the new Finance Act, all our Orange Money fees will be updated to reflect GST. This will come into effect on 15th October 2023.”

With the integration of GST, users who frequently use mobile money for their financial dealings can expect changes in the overall fee structure. All charges and fees will now be inclusive of the newly imposed GST.

Despite the impending fee alterations, Orange Money expressed its gratitude to its vast customer base for their unwavering support. They also emphasized their commitment to delivering high-caliber services. This GST incorporation is seen as a strategic alignment with the nation’s evolving financial and tax regulations, cementing Orange Money’s position as a compliant and reliable mobile money service provider.

For consumers, the bottom line is clear: the introduction of GST means it will now cost you more money to use mobile money services.





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Africell and Orange Announce Introduction of GST on all Money Transfer


Two of Sierra Leone’s major mobile networks Africell and Orange have announced the introduction of GST tax addition for any Money transfer done.

The mobile companies disclosed this in an SMS sent to some subscribers this week.

Mobile money is very popular in Sierra Leone especially in rural areas where access to banks are limited.



One Africell subscriber shared with Sierraloaded the notification which read, “Dear Customer, please note that in compliance with the new Finance Act, all Afrimoney fees will be updated to include GST. This will come into effect on the 15th of September 2023.”

That is, the new charges will take effect starting September 15.

This is a wake-up call to all mobile money users that the rate for any transfer will from September 15 include a GST that will add more to the normal transfer fee usually paid by users.

 



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