News / National
Mnangagwa, ministers clash over Mthuli Ncube tax
09 Oct 2018 at 07:33hrs | Views
The recently announced tax regime has divided President Emmerson Mnangagwa's Cabinet right through the middle with a section of it pushing hard to have the austerity measures reversed to ease the suffering among ordinary Zimbabweans.
Meanwhile, President Mnangagwa yesterday said the Intermediary Money Transfer Tax of 2 cents will remain in force as it is critical in transforming the economy, which has suffered from two decades of stagnation.
The President said the tax was not designed to hurt ordinary people and companies, but to help the manufacturing sector get funds for retooling and modernisation as the economy gears to ramp up production. However, there is room for the tax to be refined going forward if suggestions are proffered, to create a win-win situation for individuals and companies on one hand, and the economy on the other.
President Mnangagwa said this while fielding questions from delegates during the Professional Women, Women Executives and Business Women's Forum (Proweb) breakfast meeting in Harare yesterday.
More to follow....
Meanwhile, President Mnangagwa yesterday said the Intermediary Money Transfer Tax of 2 cents will remain in force as it is critical in transforming the economy, which has suffered from two decades of stagnation.
The President said the tax was not designed to hurt ordinary people and companies, but to help the manufacturing sector get funds for retooling and modernisation as the economy gears to ramp up production. However, there is room for the tax to be refined going forward if suggestions are proffered, to create a win-win situation for individuals and companies on one hand, and the economy on the other.
President Mnangagwa said this while fielding questions from delegates during the Professional Women, Women Executives and Business Women's Forum (Proweb) breakfast meeting in Harare yesterday.
More to follow....
Source - Daily News
