Kampala, Uganda – Saturday 17th November 2018. MTN Uganda has today implemented the revised tax measures on mobile money transactions – from 1{0945c2a372ac1e8bbfe7cc3e10f9b82eb0b8ae872b07368d754f0396b6ef2afe} to 0.5{0945c2a372ac1e8bbfe7cc3e10f9b82eb0b8ae872b07368d754f0396b6ef2afe} on withdrawals only.
The implementation comes after the assenting of the Excise Duty (Amendment) Act (2018) into law by President Yoweri Museveni. This Act reduces the tax that went into force on 1st July 2018 and limits its application to only withdrawals from customers’ mobile money wallets. The tax will not apply to other forms of mobile money transactions like payments, sending and receiving money and deposits or buying of airtime and bundles using MTN MoMo.
This is a welcome move that is applauded by the industry because the customers spoke, and they were listened to. MTN’s hope is that the reduction in the tax will bring back mobile money customers who had been discouraged from using the service due to the high cost of the tax.
We believe that mobile money has greatly accelerated financial inclusion by overcoming access to money barriers. It also further promotes business, trade, and commerce especially within the informal sectors of the economy and rural, hard to reach parts of Uganda which have no access to formal financial services.
Author Profile
- Uganda's First online News Paper. "More than Just News" Investigative, Informative, without Fear or Favor
Latest entries
NewsJune 10, 2026MPs APPROVE SHS700BN IRRIGATION LOAN! Govt Bets on Solar-Powered Water Systems to Boost Coffee Production, Experts Warn Taxpayers Must See Results from New Debt
NewsJune 5, 2026PUSSY FIGHT ROCKS X! Nameere and Sue Trade Explosive Allegations in Public Showdown, Defamation Threats, Old Scores and Political Fireworks Rock X! Fiery Minister Accuses Media Boss of Police Arrests, Alcohol and Njaga Problems
NewsJune 5, 2026NO MORE HIDING BEHIND MASKS! OPM Big Shots Nabbed In Refugee Cash Scandal, Security Tightens Net As More Arrests Loom
EntertainmentMay 30, 2026TENGE TENGE CASH WARS EXPLODE! Manager, Father Trade Claims Over Millions as Fans Demand Answers
