Tuesday
July 17
2018

Uganda drops some mobile money taxes

By Dicta Asiimwe

President Yoweri Museveni’s government has agreed to drop three of four levies it had imposed on mobile money transactions — depositing, sending, receiving and withdrawing cash.

Uganda’s Cabinet, despite having been previously divided on the charges, on Monday agreed to remove some of the fees and revised the 1 per cent tax on withdrawals to 0.5 per cent.

The government has however retained the daily Ush200 ($0.05) Over The Top tax on social media services.

Photo courtesy of John Twohig.

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

Categories
Finance
Tags
digital payments, fintech, mobile money, regulations, taxes