MTN wants 0.5% tax on Mobile money removed

By Moses Kyeyune.

Telecom Service Provider, MTN has appealed to parliament’s committee on finance to drop any new tax measures on mobile money withdrawals.

The call has been made by MTN Uganda Chief Executive Officer Wim VanHelleputte, who has been appearing before the committee this afternoon.

VanHelleputte says that the mobile money sector is just growing and slapping heavy taxes will cripple business.

He further says that there has been multiple taxation suffered by the operators including Value Added Tax and a 15% Withholding Tax, which if added to other operational costs makes doing business difficult.

Since the introduction of the 1% tax in July this year, Vanhelleputte says, there has been a 30% loss from Shs 550 billion registered as of June 30th, 2018.

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