Tax hike to hit mobile money
VALUE ADDED SERVICES| Oct. 8, 2012, 12:03 p.m.
The new 10% excise duty on mobile money transfer services is expected to generate around Sh4.5 billion for the government. Githae says the duty will be paid by service providers, not consumers, but there are concerns that the hike will inevitably be passed on to consumers.
The move is likely to impact on mobile money leader M-Pesa, Orange Money, Airtel and Yu. Airtel followed the announcement with the news that its customers can send money free of charge to any network in Kenya.
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