Parliament reduces Mobile Money levy to 0.5%

Parliament has passed the excise duty amendment bill maintaining taxation on mobile money transactions and social media platforms

MPs voted to have 0.5% taxation on mobile money transactions from the 1% levy

A total of 164 MPs voted in favor of maintaining the 0.5 percent tax whereas 124 legislators rejected the tax

This means that tax will be levied on mobile money withdrawals

Earlier chaos erupted during the voting exercise prompting the speaker to order for a repeat of the vote by roll call