UPDATE 1-Kenyan president proposes tax hikes on money transfer services [Reuters]
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Source: Reuters
UPDATE 1-Kenyan president proposes tax hikes on money transfer services | Reuters 4 Min Read (Adds details, background) By George Obulutsa and Humphrey Malalo NAIROBI, Sept 19 (Reuters) - Kenya’s president has proposed hiking taxes on mobile payments and other money transfer services, documents sent to parliament this month showed, amid a tussle in government over how to boost revenues without hurting the poor. Uhuru Kenyatta proposed increasing the excise duty on mobile money transfer fees from 10 percent to 12 percent, documents reviewed by Reuters showed. He also proposed a 20 percent excise duty on the fees charged by banks, money transfer services, and other financial institutions for each money transfer they do. Parliament will hold a vote on the measures on Thursday. The latest proposal comes as Kenyatta, re-elected last year after an extended and bloody election, seeks to implement planned tax hikes and other measures in this year’s budget that were designed to fund a range of
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