Tax authorities seeking unfettered access to mobile money records – that is what every government tax intake authority has been waiting for. The digital footprint of your money, which previously was unavailable in the cash-only economy.
As more and more countries embrace electronic (mobile) money, one cannot help but look at the drooling faces of the tax authorities, like a lion waiting to pounce on the rabbit that has accidentally ventured into the den.
Will the fight be one-sided or will mobile money operators fight alongside the consumers, lest they want their customers to go back to cash.
It will be bloody nonetheless.
Safaricom blocks KRA from accessing M-Pesa accounts – Business Today News
This page was last updated on February 21, 2017.