Scrap MM tax to promote financial inclusion

Kampala, Uganda | THE INDEPENDENT | The government should work towards scrapping the 1% mobile money and Shs200 social media taxes in a bid to promote financial inclusion.

This is the view of the Principle of Makerere University Business School, Prof. Waswa Balunywa. Balunywa, who was on Oct.08 speaking at a pre-independence day event organised by Airtel Uganda at its Bugoloobi office in Kampala, said the launch of mobile money was a great response to the challenge of financial inclusion in the country.

However, he said, maintaining the tax on the service, which he described as regressive, would fail efforts of pushing for financial inclusion in the country.

He used the same event to commend Airtel for exhibiting patriotism and playing an important role in the development agenda of the country through digital and financial inclusion. Airtel top officials, V.G Somashekar, the managing director and Hannington Karuhanga, the chairman board of directors used the occasion to reward the company’s top performing staff.