Uganda: Mobile Money Transfers to Face a 10% tax

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Mobile Money has now become a part of the Ugandan daily life, they no longer need to carry cash on them. Even those without a bank account have accounts with the network provider of their choice because it is not expensive,” says David HALLIDAY, General Manager at Uganda Telecom.

The head of the network provider as well as the Ugandan might see their habits change with the imminent tax on all the mobile transfer, which would make the service much more expensive. The Ugandan government intends to apply a 10% tax on all money transfers via mobile.

According to the Secretary of Finances, Maria KIWANUKA, the country which is facing serious financial difficulties, hopes to gain over 12 million dollars a year. The tax could affect the 8,9 million clients who regularly use these services to send money to their relatives in the rural areas.

Although much of the country’s financial crisis comes from the suspension of foreign aid from countries such as Great-Britain, Norway, Danmark and Ireland after funds were allegedly wired illegally into private accounts, it would appear as though the people would be paying for the government’s actions.

 

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