Why did the Mobile Money tax didn’t work in Uganda, Kenya, and Malawi
The tax on mobile money services didn’t work in Uganda, Kenya, and Malawi due to increased tax on internet services. Over a 500million people use mobile money to do transactions.
The Uganda government-imposed taxes on Social media and mobile money but they all failed to work. After the government of Uganda, Kenya, and Malawi imposed a mobile money tax several people refused to use the platform to do transactions.
Already the people are angry about the high tax on internet services. People in Uganda were saving money in their rooms, under their brazier, until their government dissolved the tax on mobile money.
Now the Ghanaian government is also considering imposing a tax on mobile money as several people have redrawn money from their wallets and stored them in their houses.
The tax on mobile money services in Ghana was announced by the Minister of Finance as part of the 2022 budget.
Many people are complaining about the 1.7% mobile money tax imposed by the government of Ghana.
Some experts are demanding the reversal of the high tax on mobile money. Kenya, Malawi, and Uganda’s government later reversed the tax on mobile money due to how the people took it.
The question is will the Ghana government also reverse its decision?