Kenyan president proposes tax hike on money transfer services

Wednesday, September 19, 2018

By George Obulutsa and Humphrey Malalo

Kenya’s president has proposed hiking taxes on mobile money transfer services and other money transfer services, documents sent to parliament this month showed, amid a tussle in government over how to boost revenues without hurting the poor.

Uhuru Kenyatta proposed increasing the excise duty on mobile money transfer fees from 10 percent to 12 percent, documents reviewed by Reuters showed. Parliament is set to debate and vote on the measure on Thursday.

Photo courtesy of Neil Palmer.

Source: Reuters Africa (link opens in a new window)

financial inclusion, fintech