Mobile Money Charges Will Only Apply On Withdraws-Minister Bahati

By Denis Turyahebwa.

The State Minister for Finance and Economic Planning Hon David Bahati has said mobile charges taxes will only apply on withdraws.

He said this while addressing a press conference at Uganda Media Centre on Tuesday. Bahati said the Cabinet that on sat 16th July 2018 decided that Mobile Money users are to be charged only on withdrawals.

‘’No more charges on depositing and sending,” Hon Bahati said. He added that the move is intended to promote digital transactions in the country as it is in the modern world.

Bahati said people who were charged 1% on deposits would be refunded easily because effect of the law hard not intended to affect the depositing process.

According to Hon Bahati, the Government projects UGX 118Billion on withdrawals only compared to UGX115Billion initial projection the Government had made from sending and withdrawing.

When asked the amount of Money collected from Mobile Money and Social Media Tax so far, Hon Bahati said the Government managed to collect UGX7Billion last week only, social Media contributing UGX2Billion on the figure from Ten thousand social media users.

He added that the Government expects UGX280Bn by the end of the year from that number if it doesn’t increase.

However, On social media tax the minister said the shs 200 will stay but the Government will look forward to better the process of payments.

Meanwhile, on the World University Netball championships scheduled for 17th- 21st September 2018, at Makerere University, Hon Bahati said the Government together with the ministry of Finance are working hand in hand to give a financial hand for the world standard preparations.