Malawi government introduces 1% tax on mobile money transactions

Wednesday 25 September 2019 | 10:06 CET | News
The Malawi government has approved a 1 percent withholding tax on all mobile money transactions, ITWeb reports.  Minister of Finance, Economic Planning and Development Joseph Mwanamvekha said in his recent budget speech that the tax would ensure that more people contribute towards federal building and that the government has scope to improve its service delivery. Critics say that the tax threatens financial inclusion as it would cause mobile money operators to raise the cost of transactions.

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Categories: Mobile & Wireless
Countries: Malawi
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