Tanzania's Government has reduced mobile money transaction levy by 30 percent. A press statement issued by the Ministry of Finance and Planning Tuesday stated that Minister Mwigulu Nchemba has already signed the review of the charges.
Following concerns and views from the public, claiming that the deductions were too high, President Samia Suluhu Hassan directed two Ministers (Finance and Planning Minister and Minister for Communications and Information Technology) to sit down and work on the matter.
The statement added that newly reduced rates will be officially announced in the Government Gazette tomorrow, (1st Sept, 2021). "Also, the Government held a meeting with mobile service providers, who have unanimously agreed to cut down mobile money interoperability rates by 10 percent," it stated.
Mobile money interoperability refers to transfers between customers of different mobile service providers. The Government, according to the statement, was optimistic that the decisions will give relief to the citizens and enable the State to collect revenue for execution of various development projects in accordance to the 2021/2022 National Budget.
The recent data shows that Government has managed to collect 48,4bn/- since when the new levy was introduced.
Distributed by APO Group on behalf of Embassy of the United Republic of Tanzania Tel Aviv, Israel.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
