Mobile Money Transaction Bill to broaden tax base
By Masauso Mkwayaya
Finance and National Planning Minister SITUMBEKO MUSOKOTWANE says the Mobile Money Transaction Bill is partly meant to widen the tax base to the informal sector.
Dr. MUSOKOTWANE says the Bill which has passed second reading in the National Assembly, will make it easier for Government to collect more taxes from those in the informal sector such as metal fabricators and traders in markets.
Dr. MUSOKOTWANE says the Bill should be supported because an increased tax base means more money will be channeled to other sectors such as Health, Free Education and the Constituency Development Fund -CDF – among others.
He says the tax base needs to be increased because a few people in formal employment are burdened to pay taxes for majority who are not taxed.
Dr. MUSOKOTWANE said this today in the National Assembly when the Bill was presented for second reading.
And National Economy, Trade and Labour Matters Committee acting Chairperson WALUSA MULALIKI says majority of the stakeholders are happy with the Bill.
And contributing to the debate in the Bill in the National Assembly, Feira Member of Parliament EMMANUEL TEMBO said the Bill should NOT be adopted because it is increasing taxes for the underprivileged that mostly use the facility.
And Shiwang’andu Member of Parliament STEPHEN KAMPYONGO called for more consultation with Mobile Money users.
Mr. KAMPYONGO says the requirement for Mobile Money operators to keep written records of all transactions is not tenable as most people in the business do not have fixed places to operate from.
