ECONOMIST Chibamba Kanyama says although taxing mobile money business transactions will negatively affect financial inclusion, the gains from this measure will benefit the country. Zambia Revenue Authority (ZRA) Board Chairperson Dr Caleb Fundanga recently said the authority wants to work towards ensuring that tax was captured even on mobile money transactions for businesses, the way it was with bank accounts. Dr Fundanga observed that most businesses opted for mobile money transactions for payments as opposed to bank cards for fear of tax deductions. In an interview, Monday, Kanyama said his concern about such a move was that it could affect the current crusade to enhance financial inclusion. “The concern for this measure is that it will have a dent on the...

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