Airtel implements 0.5% Mobile Money Tax

Airtel implements 0.5% Mobile Money Tax

Reduction seen as step in the right direction

Airtel Uganda has today announced and implemented a reduction in the Mobile Money tax from 1% to 0.5 per cent, only applicable to only withdrawals.

Unlimited Internet - Uganda

This follows the President’s ascension to 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 withdrawals.

V.G. Somasekhar – Airtel Uganda MD

Commenting about the amendment, Mr. V.G. Somasekhar the Airtel Uganda Managing Director expressed gratitude to the Government, Parliament and other Authorities for being responsive to feedback from mobile money users and agents.

“We welcome this change in revising the tax to 0.5% applicable only on withdrawals,” he stated, adding that Airtel pledges to continue providing reliable and affordable telecommunications solutions, while maintaining compliance to the regulatory procedures of Uganda.

Early this year, the President of Uganda assented to the Excise Duty (Amendment) Bill 2018, which placed a 1% levy on receiving, making payments, and withdraws through mobile money transactions.

Following feedback from different stakeholders, the tax on Bank to Wallet transfers and deposits was dropped on July 4, 2018 requiring telecoms to refund mobile money user that had carried out transactions in that season.

“We effected the refund ahead of the industry. The process was seamless,” Mr Somasekhar said. The move is in the right direction and will facilitate growth and penetration of financial inclusion in Uganda.

In case of any queries, customers are advised to contact the Airtel Uganda customer care team on 100 or visit the head office at Clement Hill.

Share This
Verified by MonsterInsights