Renson Mwakandana
Following a public uproar, Tanzania 🇹🇿 decided to withdraw the charges on electronic transactions that went into effect on August 15 on Tuesday.
According to Finance and Planning Minister Mwigulu Nchemba, the tariffs would be eliminated on October 1. The changes made, according to him, are to cancel the levies for transferring money from banks to mobile networks (and vice versa) and to cancel levies for transferring money within the same bank.”
According to Dr. Nchemba, the government would abolish the price for moving money between banks and will also remove the transaction fee for cash withdrawals through bank agents and ATMs for amounts up to Tsh30,000 ($12.81).
He stated that: “We discussed and reviewed a number of issues including reducing tax and levies’ burden on the people, encouraging the use of cash transactions, simplifying tax collection, and avoiding double taxation for both parties – that’s the sender and receiver.”
According to Dr. Nchemba, the government would abolish the price for moving money between banks and will also remove the transaction fee for cash withdrawals through bank agents and ATMs for amounts up to Tsh30,000 ($12.81).
