National News

President Museveni yet to sign new Mobile Money tax law

Members of Parliament are concerned that three weeks after parliament passed a bill that reduced the tax on mobile money transactions from 1% to 0.5%, President Museveni still hasn’t assented to it.

The MPs argue that Ugandans are continuing to be exploited yet parliament has already played its part to alleviate the tax burden on them.

 

Origin

In the budget proposals for the year 2018/19 done in 2017, government proposed in the Excise Duty (Amendment) Act 2018, to tax mobile money transactions; “on receiving, payments and withdraws” — 1% of the value of transactions.

Following public outcry over Mobile Tax rate, President Museveni says proposed to parliament to lower taxes on mobile money transactions from 1 percent to 0.5 percent adding that it “is still a subject open to discussion.” e wrote in a statement.

Museveni proposes refund for those who had paid 1 % mobile money tax

President Museveni later promised that those who had earlier been taxed 1% for transacting on the mobile money platform shall be refunded once the law has been amended and the figure is reduced to 0.5%.

“I signed the law with the error because we could not delay the other measures. However, Parliament, when it reconvenes, will be requested to correct it. The ones whose deductions had been made on the basis of 1% should have their money reimbursed,” Museveni wrote.

Where are we?

Three down the road after parliament passed a bill to reduce the tax from 1% to 0.5 %, president seem to be busy to sign the bill into law. Until he signs, URa and Telecom companies will keep charging 1% as the current law states.

Related:

No Mobile Money Tax Refund-Government

MPs vote in support of 0.5% mobile money tax

Museveni orders refund for those who had paid 1 % mobile money tax

Museveni lowers mobile money tax to 0.5%

Who is fooling who in the Mobile Money Tax

MPs want zero tax on Mobile Money

The Death of Mobile Money In Uganda

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