The state minister for finance and planning Bahati said that all Ugandans are to be taxed 1% on every mobile money transactions.
Bahati was speaking to the media yesterday when he said that all transactions via mobile money will be taxed.
Whether one is depositing or withdrawing, he/she is to pay 1%of the transaction.
Bahati said that very many Ugandans carry transactions on mobile money therefore Uganda will be able to collect more income for developmental purposes in Uganda.
This tax has come after President Museveni introduced a tax on social media platforms. Social media users are to pay shs 200 every day.
Museveni said that taxing social Media will also increase income in the country.
- Museveni Is Taxing Social Media Fearing It Will Lead To His Down Fall-Segona
- Stanbic Bank Uganda and Uganda Revenue Authority Makes tax payment Easy
- Airtime Prices Increase Due To New URA Tax Policy
Please use the button below to contribute to Newslex Point, Inc. using a credit card or via PayPal.