@TheStar

Mobile money transfer charges to go up as Rotich increases duty to 12% - 10 months ago, 14 June 17:16

Patrick Vidija @v ...

Kenyans will be forced to dig deeper into their pockets to get mobile money transfer services.

Treasury CS Henry Rotich, in budget estimates read on Thursday, introduced a 12 per cent excise duty on mobile money transfers.

Rotich said this is an increment of 2 per cent from the current 10 per cent.

The CS said the money that will be collected from the increment will be used to finance the Universal Health Care program.

Rotich said a robin-hood excise duty of 0.05 per cent on Sh500,000 and above transferred in banks.

"Kenya has a well established financial sector with quite a good significant amount of money transacted monthly. These measures are meant to enable the government get its fair share of revenue to finance some of its key projects," he said.

In other tax measures, Rotich proposed an increase of 30 per cent excise duty from the current 20 per cent on all private ...
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