Experts Sight Economic Crisis After Social Media and Mobile Money taxes In Uganda.
The economic experts have predicted a slowdown in the growth of economy in Uganda due to the newly introduced taxes on mobile money and social media introduced by the parliament.
According to Dr. Fred Muhumuza, a Principal Researcher at Development Policy International, the taxes will see people reduce down mobile money and social media use for some days . This means the government will not collect the desired taxes at the end of the day if people choose to stop using these platforms .
Muhumuza argues that instead of taxing mobile money transactions that will hurt people the government should consider taxing the cattle sector and advise the good to ensure good discipline of taxes where only the able ones are taxed .
“Some people are going to be knocked down by the costs those using social media may skip a day but people selling cows are not taxed in this economy yet we invest heavily in the cattle sector” he said. He further added that it’s time to recover some of the money saying good tax must protect those who are not able to pay sighting out pay as you earn (PAYE) which is not paid by everybody .
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