Wednesday
June 20
2018

Kenya telecoms operators reject money tax

By Business Daily

Kenya’s telecoms operators have expressed disappointment at government’s intention to increase excise tax on mobile money transactions, arguing that the move will hurt the poor most and undo most of the gains made in promoting a cash lite economy.

The operators were reacting to Treasury secretary Henry Rotich’s announcement last Thursday that he intends to increase excise tax on mobile money transfers from 10 per cent to 12 per cent.

Mr Rotich said funds realised from the levy increase will be used to fund universal healthcare programme that aims to cover all households by 2022.

Photo courtesy of Neil Palmer.

Source: The East African (link opens in a new window)

Categories
Finance
Tags
financial inclusion, fintech, mobile money, telecommunications