Uganda: MPs Grapple With 0.5 Percent Mobile Money Tax Reduction Plan

Mobile Money Uganda

Parliament — Mobile Money users will have to wait a little longer for the new 0.5 percent tax levy to be operationalised.

The government in July decided to drop the tax on mobile money from the unpopular one percent on all transactions to 0.5 percent only on withdrawals.

However, two months down the road, users continue to suffer the one percent tax on deposits and a similar charge on withdrawing.

Meanwhile, the chairperson on the Parliamentary Committee on Finance, Mr Henry Musasizi has told Daily Monitor Tuesday morning that the committee is still handling the bill, which seeks to formalise President Museveni’s directive for a lower tax.

All bills presented to Parliament are usually given up to 45 days to be processed before final debate and possible passing.

Mobile Money Uganda

Despite its long stay in the House, Mr Musasizi said that the question is not as to when it will be ready, since it deals with the core of the country’s revenue on one hand and a matter of public interest on the other.

“This is a public interest issue, my task is to handle it with all the care it deserves, we don’t need to rush it,” he said.

He says he will present the committee report to Parliament as soon as he is ready.

“It is being processed and as soon as we are ready we shall report back to parliament,” Mr Musasizi said.

Regarding the continued charge of the one percent on deposits, Mr Musasizi said that Parliament is not responsible for implementation and said this would best be answered by Cabinet.

President Museveni, in his directive said that the matter should be addressed as a matter of urgency.

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About Innocent Beldwin

Innocent Beldwin has been a tourism & hospitality expert, digital marketer, and currency trader. He has climbed the top of Kilimanjaro, survived a life-threatening snow in the process , and lived on a gold mine in the Geita. He and her sister share their home in Northern Arusha with a lovely kid named Jairus Unveiling this wonderful continent to you is what makes him happy, he is going to put on even more hard work to bring all the Africa business news just on your table. Enjoy!

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