Members of Parliament (MPs) have asked government to collect taxes from mobile money services providers, observing that they deduct huge sums in fees.
Speaking during debate on the Payment System Bill, Dowa East MP Richard Chimwendo Banda (Malawi Congress Party-MCP) said the system is good and that the government should implement it.
He said: “So, government, through Malawi Revenue Authority [MRA], must also benefit from it by collecting tax from them.”
Nkhata Bay Central MP Raphael Mhone (People’s Party-PP) also supported the Bill, saying it is good for the country’s economy.
He said: “This Bill will enable the Reserve Bank of Malawi to deal with issues of payments such as cheques that take one week to get cleared despite the banks claiming that they work 24 hours online.”
In his remarks, Minister of Finance, Economic Planning and Development Goodall Gondwe said government will make sure that the payment service are payable to the government.