Finance Ministry have commenced drafting of new tax bill after public outcry



Ministry of Finance has commenced  drafting of new tax bill after president Museveni’s directive on mobile money tax
By  Wednesday evening officials from Finance Ministry were busy making  draft to a new tax bill in a bid to accommodate the new adjustment on mobile money following the presidentential directive.
The President on Wednesday afternoon evening issued a statement via social media, stating that  1.0 percent tax introduced on mobile money was a misinformation and that the actual tax should have been 0.5 percent.
“I am always against those direct taxes on those sectors, is it too much for users of the mobile money senders and receivers to also make a modest contribution to the development of their country? The 1% was a miscommunication. The actual figure was 0.5%, half of one percent. That is what we should debate, on the mobile money,” the President’s statement read in part.
It is expected that, the speaker of parliament will convene parliament as soon as the draft bill  is ready in order to debate and pass the bill into law.
This comes after public outcry in regards to recently announced social media tax and mobile money tax. It is yet unclear if the government will also make changes on the social media tax which has forced many Ugandans to resorts to VPN in order to bypass the tax.




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