Tanzania scraps levies imposed on electronic transactions

The Government has scrapped the levies imposed on electronic money transfer from bank to mobile and within the same financial institution, Minister of Finance and Planning, Dr Mwigulu Nchemba has announced in Dodoma on Tuesday.

Elaborating to the lawmakers, Dr Mwigulu said all automatic teller machine (ATM) transactions not exceeding 30,000/- will not be charged.

According to the minister, free transactions announced will come into effect from October 1, 2022.

To cover the gap, the Minister said: “The government will control its expenditures in various spending’s.”

However, he said that the government has reversed the decision to give tenants a mandate to withhold 10 percent of house rent in both private and commercial buildings.

The Tanzania Revenue Authority (TRA) will collect it directly from landlords, the Minister said.