@DailyNation

Uganda nets Sh188mn from social media, mobile money tax - 7 months ago, 18 July 11:34

By: The Monitor

Uganda announced Tuesday that it has so far collected Ush7 billion (about Ksh188.4 million) from the newly-introduced tax on social media and mobile money transactions just a week into the new financial year.

Minister for Finance David Bahati said that although Cabinet approved a reduction of excise duty on mobile money from 1 per cent to 0.5 per cent, the drop would not affect earlier government estimates of collecting Ush118 billion (about Ksh3.2 billion) from the tax that has stirred public outrage. 

Mr Bahati said that a Monday Cabinet meeting at State House Entebbe agreed to apply the tax only on withdrawals and not money that was being sent.  

“As long as you are not cashing out money, you will not pay the tax but if you do, you will make the contribution of 0.5percent. We expect that if we charge the levy of 0.5 percent on withdrawals only, we ...
Read More


Category: topnews news business

Suggested

2 hours ago, 00:37
It’s hard to believe abortion, says Caroline’s father Mbai

Caroline Mwatha’s father Stanslaus Mbai on Friday said he was dissatisfied with the postmortem that showed the activist died from excessive bleeding.Chief government pathologist Johansen Oduor ...

Category: topnews news
2 hours ago, 00:45
Canadian, Kenyan teams burn midnight oil working on HIV vaccine

Kenyan and Canadian researchers are working on what they say is a promising new HIV vaccine. Based on the chicken pox vaccine, the concept has been tried among 44 HIV negative women in Nairobi with ...

Category: topnews news
1 hours ago, 01:54
Corridors of Power

Is a Cabinet Secretary mischievously leaking government secrets? A section of CSs are reported to be unhappy with one of their own who they accuse of secretly handing out information to the media in ...

Category: topnews news
41 minutes
Mwatha's death will remain controversial

After a week of anxiety driven by the fear of an execution, human rights defender Caroline Mwatha was found in the Nairobi City mortuary. Forty-eight hours later, two independent pathologists ...

Category: topnews news
3 hours ago, 00:05
North Korea looking for home-grown, sanctions-proof energy

Power-strapped North Korea is exploring two ambitious alternative energy sources, tidal power and coal-based synthetic fuels, that could greatly improve living standards and reduce its reliance on oil ...

Category: topnews news
3 hours ago, 00:05
Tanzania, Uganda overtake Kenya in major infrastructural projects

Kenya’s East African peers will race past it as the new home for mega infrastructure projects in 2019, thanks to President Uhuru Kenyatta’s austerity measures. Debtwire, an intelligence service that ...

Category: topnews news