Mobile money to slow down economy

By Ritah Kemigisa.

Economic experts are predicting a slow down in the growth of the economy due to the newly introduced taxes on mobile money and social media that were okayedby parliament.

According to Dr. Fred Muhumuza, a development analyst, the taxes will see people shun mobile money or using social media for some days.

He says this means government will not collect the desired taxes at the end of the day if people choose to stop using these platforms.

Muhumuza argues that instead of taxing mobile money transactions which will hurt the poor people, government should consider taxing the cattle sector.

He advises government to introduce good discipline of taxation where only the able ones are taxed.