The Tanzanian government has set new taxes on financial services and this includes mobile money transactions. Every time someone uses a mobile money service, either by sending or withdrawing money, 10% is deducted.

Obviously, nobody’s happy about this never mind that the government claims it’s to boost revenue collection and seal tax evasion loopholes. Tanzania has a growing mobile money user base with 16 Million subscribers, most of which are in rural communities, so you can imagine how much this tax affects them. Not to mention the fact that this tax may have a negative impact on financial inclusion in Tanzania.

Source: techweez.com

Tola Agunbiade Author

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