M7 directs refund of 1% mobile money tax

President Museveni directs refund of 1% mobile money tax deductions

President Yoweri Museveni has directed that all those people whose mobile money tax deductions had been made on the basis of 1% be refunded.

In a statement on his blog, the President said the figure of 1% came up by mistake.

Museveni further says that Mobile money tax cannot be revoked, since many people’s earnings are not known.

He said Mobile money transfers have brought to the surface the big volumes of money that are moving around the country to the tune of US$ 52meach day.

The president said it is therefore a convenient source for the country in an effort to have self-sufficiency in budget and as such should not be over- looked.