Finance Minister Kasaija defends government’s decision to tax mobile money

By Benjamin Jumbe.

The Minister for Finance, Planning and Economic development Matia Kasaija dismisses claims by financial experts that the taxes on mobile money transactions are negatively impacting financial inclusion.

Speaking during the financial inclusion week symposium, Kasaija says Mobile Money is still the most secure and convenient mobile payment platform that people that cannot do way without.

He defends government’s decision to tax mobile money users saying that Mobile money has revolutionized the way financial services are provided across the globe hence the need to tap into sector with at least 0.5% levy on each withdraw transaction.