Amended mobile money tax effective today

By Ssebuliba Samuel.

The long awaited reduction in mobile money tax charges takes effect today.

Parliament on 2nd October 2018 revised the contentious Excise Duty Act and reduced the mobile money tax on all withdraw transactions from 1 to 0.5% but had since not been effected.

Speaking in parliament, the state minister for finance David Bahati said that the 0.5% tax as stipulated in the amendments act will take effect today after being gazetted.

President Museveni last week assented to the law.