Museveni Weighs in on Social Media Tax, Lowers Mobile Money Levy

Enterprise Television- Museveni Weighs in on Social Media Tax, Lowers Mobile Money Levy

Uganda’s President Yoweri Museveni announced that he has lowered taxes on mobile money transactions from 1 per cent to 0.5 per cent, following a public outcry over the new excise duties, adding that it “is still a subject open to discussion.”

Mr Museveni in a statement he posted on Facebook on Wednesday afternoon said “The social media users have no right to squander the dollars I earn from my coffee, my milk etc by endlessly donating money to foreign telephone companies through chatting or even lying and, then, they are allergic to even a modest contribution to their country whose collective wealth they are misusing.”

He however stated the reasons for the social-media tax and the mobile money tax.

Noting that the budget for this financial year is Uganda Sh 32 trillion, also the taxes collected from within Uganda and the other fees for this financial year will be Ug.sh.17.5 trillion.

The balance (the difference) is handled by borrowing from outside the country, Ug.Sh 8.3 trillion, as well as borrowing from within the country, Sh 7 trillion. We also get grants from outside to the tune of Sh280bn i.e 0.28 trillion.

 

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