MTN Ends Tax on Mobile Money Deposits

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The MTN telecommunications leader announced Thursday that it was ending the Shs 1% tax on the mobile money deposits. 19659008] The tax was part of the larger 1% levy announced by the government last month on deposits, the sending and receiving of money.

The tax, with the Shs 200 excise on Over the Top (social media) services were widely

Three days after the entry into force of the law, the Ministry of Finance decided to cancel the 1% tax on mobile money deposits, and the next day, President Yoweri Museveni announced that the 1% tax on sending and receiving was a mistake and should have been 0, 5%. </p> <p> The announcement of MTN was made yesterday by the Ugandan tax authority, ordering telecoms to stop taxing mobile money deposits. "In the letter to the telecoms, URA Commissioner General, Doris Akol, also ordered that no tax be levied. </p> <p> " Paying Taxes on Mobile Money Platforms including OTT Excise Duty, does not constitute a payment within the meaning of the provision, "she declared </p> <p>but it may be necessary to wait a little longer before the tax of 0.5% on the other mobile money services come into effect since the Finance Ministry promised to introduce another tax bill in Parliament in the near future. </p> </p> <div class=
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