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Uganda to Impose 10% Tax on Mobile Money Transactions

The Ugandan government has announced plans to introduce a tax on mobile money transactions in the 2013/14 financial budget.

The Finance Minister, Ms Maria Kiwanuka announced the levy on all mobile money transactions, which is to be set at 10 percent of the transaction fee.

Nearly nine million mobile phone subscribers make use of mobile money services in the country, which are offered by all the mobile networks now.

The government expects to generate Shs32 billion (US$12 million) annually from the tax.

The government has also introduced a tax on inbound international calls, which it expects will raise around  Shs43 billion (US$16 million) per year.

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