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New Income Tax in Rwanda Causing Major Financial Strain for Many Mobile Money Agents

Region: Rwanda

Topics: BusinessMoneyPolitics

More than 7 million Rwandans do their banking through their cellphones, but many of the agents who facilitate the banking transactions never declared their income to the country’s tax authority. Now the tax authority has started taking a 15-percent withholding tax from these agents’ incomes with the cellphone provider, plunging some of these agents into financial turmoil.

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