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Tanzania Largely Scraps Levies on Money Transfers

04 October 2022

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Approved Changes

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Tanzania

Tanzania has since 2013 applied various iterations of levies on (electronic) money transfers. The latest iteration of the rules applied from July 2022 and consisted of a levy ranging from TZS 10 to TZS 4,000 on electronic money transfers from MM (Mobile Money) to MM, MM to bank, bank to MM, and bank to bank. The levy also applied to cash withdrawals from MM accounts or bank accounts. On 20 September 2022, Tanzania announced the elimination of the levy for most money transfer transactions effective from 1 October 2022. An announcement (in Swahili) by the Minister of Finance and Planning...