The President has proposed an increase in mobile phone transaction excise duty from 10 percent to 20 percent. He also wants excise duty on bank transactions hiked from 12 to 20 percent. If he has his way, Excise duty on telephone and internet data goes up by 15 percent. Those involved in businesses that utilise money mobile transfer services will pay more for the transfers. Mobile money transfer accessibility has helped to grow many businesses as transactions are done on the cheap and quickly.

Source: Standard Digital September 19, 2018 13:07 UTC