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Ugandans to pay 1% on mobile money transactions

Ugandans To Pay 1% On All Mobile Money Transactions

The state minister for finance and planning Bahati said that all Ugandans are to be taxed 1% on every mobile money transactions.

Check also: Museveni Introduces Tax On Social Media Platforms

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.

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About nasasira benjamin

nasasira benjamin
Posted by benjamin, An associate Author & Editor at newslexpoint, he loves writing especially articles in entertainment and lifestyle aswell as editing.

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