Parliament Amends Mobile Money Tax from 1% to 0.5% on Only Withdraws

Members of the 10th Parliament have on Tuesday passed the Excise Duty Amendment (No.2) Bill, 2018 which provides for the amendment of the Mobile Money tax of 1% on all transactions to 0.5% on withdraws.

The Bill was tabled by government through the Minister of Finance, Planning and Economic Development, David Bahati in July.

The decision was taken after members cast a vote on the amendment that was proposed by Ndorwa East MP, Wilfred Niwagaba calling for deletion of the entire clause that provided for mobile money tax.

After almost an hour of the voting exercise, a total of 288 votes were cast with 124 voting for the removal of the tax while 164 voted against it.