July 17

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)

digital payments, fintech, mobile money, regulations, taxes