Telecommunications service provider Safaricom has announced its adjusted prices for its services following the lifting of the suspension of the Finance Act 2023.
Through a notice shared, Safaricom indicated that the new adjustment would reflect the increase in excise duty on mobile money transfer services from 12 to 15 per cent.
In the new changes set to take effect on July 29, 2023, Safaricom has indicated that mobile money transfer charges will increase by 3 percent whereas the charges on SMS, data, home fibre and calls will reduce by 5 percent.
“Following the enactment into law of the Finance Act 2023 and the Court of Appeal ruling on 28th July 2023, effective 29th July 2023, we will be reviewing our call, SMS, data, fiber, M-Pesa pricing to reflect the increase in the excise duty rate on fees charged on mobile money transfer services from 12% to 15% and the decrease in excise duty rate in telecommunication services (call, SMS, data and fiber) from 20% to 15%.” the notice reads in parts.
Additionally, the firm said they will also consider the decrease in the excise duty rate on Telecommunication services from 20 per cent to 15 per cent.
Safaricom said the details on pricing on each of their products can be found available at each of their different touch points such as the Safaricom app, by dialing *100#, *544# or visiting M-pesa agents who are spread across the country.
The Court of Appeal on Friday has lifted an order suspending the implementation of the Finance Act, 2023.
The appellate court ruled that the government, who appealed the suspension through the Treasury Cabinet Secretary Njuguna Ndungu, has satisfied the twin principles to warrant the grant of the orders sought.
By BNN