INTRODUCTION OF THE NEW DEVELOPMENT LEVY ON MOBILE MONEY TRANSFER TRANSACTIONS
INTRODUCTION
Electronic mobile money transfer and withdrawal is a transfer or withdrawal of money electronically from one person to another using a mobile phone. This services is available in Tanzania and is used in our daily life, it allow users to deposit, withdraw and transfer of money and further to pay for goods and services.
In Tanzania, there are various mobile-phone based money transfer and withdrawal service providers or electronic money issuers, such as Tigo Pesa, M-Pesa, Airtel Money, Halo Pesa and many others; also including bank and other financial institutions (hereinafter referred to as “the collector”)
The National Payment Systems (Electronic Mobile Money Transfer and Withdrawal Transactions Levy) Regulations, 2021 (“the regulation”) has been introduced to apply to electronic mobile money transfer and withdrawal transactions through the licensed payment system but does not apply to merchant, business or government payment transactions.
NEW DEVELOPMENT LEVY ON MOBILE MONEY TRANSFER TRANSACTIONS
The regulation was issued on 30th June, 2021 via GN No. 496, however, the same came into operation on 1st July, 2021. Pursuant to the schedule of the said regulation the chargeable rates for electronic mobile money transfer and withdrawal levy are as follows:-
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