0.5 PERCENT MOBILE MONEY TAX STARTS FRIDAY—MINISTER BAHATI TELLS PARLIAMENT

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In Kampala—

Following summon by the Speaker of Parliament to the ministry of finance, the state minister for Finance David Bahati on Thursday assured Parliament that the mobile money tax will reduce from 1 percent to 0.5 percent effective today Friday 16.
This follows questioning from Members of Parliament about why the change in the tax had not been implemented, more than a month after it was passed by the House.

The Nakaseke South MP, Ssemakula Luttamaguzi questioned on why telecom companies are still charging the 1 percent tax on all transactions despite the new law being in place.

The lawful charges should be 0.5 percent but up to now telecom companies are still charging one percent. We want to know because most of the people dealing in mobile money have fallen out of that business. Is it designed by government to kill its own people or it is an accident? he questioned.

In response, Bahati said, the president assented to the bill within the period as indicated in the Constitution and the law will be gazetted tomorrow. And the effectiveness of the law will start tomorrow.”
The president had also signed the new bill into law last week, but telecoms were still taxing mobile money users at the rate of 1% on every withdrawal.

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