parliament
NEWS

Kadaga tasks Finance Minister on Mobile Money law

Speaker of Parliament, Rt. Hon. Rebecca Kadaga has tasked Finance Minister, Matia Kasaija to explain the arrangements Government has in enforcing the Excise Duty Amendment Act (FILE PHOTO)

PARLIAMENT -Speaker, Rebecca Kadaga has tasked the Minister of Finance, Planning and Economic Development to explain the arrangements Government has in enforcing the Excise Duty Amendment Act which is commonly known as the Mobile Money Act.

The Speaker’s orders followed a concern raised by Lutamaguzi Ssemakula, (Nakaseke South) who wondered why the telecom companies are still charging 1% despite the fact that President Yoweri Museveni ascended to the bill.

“As we speak, most of the people who are the mobile money business have closed their business and we are wondering if it is a sign by Government to fail its own people or it is by accident. Why is it (Government) taking time to gazette that law.“

Kadaga remarked: “Can the Minister of Finance come and explain to us about his arrangements to enforce the Excise Duty Amendment Bill.”

Hardly one month into the implementation of the Act, the Legislation received fierce protest from the public prompting Government to bring amendments to the bill.

In the first legislation, Government had introduced a 1% tax on all mobile money withdraws in anticipation to collect Shs115bn but in the new proposal, the tax was reduced to 0.5%.

The second amendment saw the Bill go through a vote that saw 164 MPs voted to have mobile money tax upheld, while 124 voted against the controversial tax out of the 288 MPs that took part of the vote.

But despite the President ascending to the Act, the Act will only come into law after being gazette in the Uganda gazette.

Comments

All Rights Reserved. THE INFORMATION CONTAINED IN THIS WEBSITE MAY NOT BE PUBLISHED, BROADCAST, RE-WRITTEN OR RE-DISTRIBUTED WITHOUT THE PRIOR WRITTEN AUTHORITY OF THE PUBLISHERS

Copyright@2019: PMLDaily

To Top