100 Mps raise signatures to reject proposed Mobile money tax
Over 100 MPs have collected signatures to petition the Speaker of Parliament Rebecca Kadaga against tax proposals on mobile money transactions.
The group led by deputy opposition whip Roland Kaginda, Kassambya county MP Gaffa Mbwa tekamwa and Manjiya county MP John Baptist Nambeshe told the press today that they hope to collect 320 signatures by end of this week.
The legislators say that the proposal to levy 1% tax on the value of transactions-payments and withdrawals on mobile money in the financial year 2018/19 national budget estimates will reverse the move towards financial inclusion.
The group belongs to the Parliamentary Forum on Public Finance Management and the Greater North Parliamentary Forum say that the tax on mobile money transactions will hurt the poor and vulnerable, frustrate financial inclusion because less than 85 of the 112 districts in Uganda have access to any bank branch and ATM and more than 10 million Ugandans access financial services through mobile money.
The Chua west mp Ojara Okin says that government needs to reduce on its expenditure so that they can be able to utilize the taxes they collect effectively.