Cote d’Ivoire taxes mobile money transactions
12 January 2018
The Cote d’Ivoire government has implemented a new tax on mobile money services, with each transaction now attracting a 0.5% levy under the state’s 2018 budget. The move follows similar mobile money taxes introduced in markets such as Kenya, Tanzania, Uganda and Zimbabwe. The total value of mobile money transactions in Cote d’Ivoire has been estimated at up to XOF17 billion (USD33 million) a day, according to a report from Agence Ecofin, meaning government will be bringing in an additional XOF85 million daily. The taxation of mobile money services has been criticised by bodies such as the GSMA, which says that authorities should be doing more to encourage their spread in countries with little access to conventional banking services.