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BREAKING: High court embarrasses Mthuli Ncube over 2% taX

by Mandla Ndlovu
18 Sep 2019 at 09:43hrs | Views
High Court Judge Justice Zhou has reportedly set aside SI 205/2018 on the 2% transaction tax.

The case against the controversial tax was argued by MDC Vice President Tendai Biti.

Under the so called Intermediated Money Transfer Tax, the government effectively taxes every money transfer in Zimbabwe, for both ordinary people and companies, 2% tax.

The tax was introduced on 1 October 2018 by the Ncube in a bid to increase government's revenue. The government has since been able to collect several billions through the tax.
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Source - Byo24News