Zimbabwe: 2 Percent Tax to Stay

23 October 2019

Finance and Economic Development Minister Mthuli Ncube says the 2 percent Intermediated Money Transfer Tax on transactions will continue for much longer as it covers for tax defaulters.

His comments come amid growing calls by business leaders to scrap the tax that they claim is increasing the cost of doing business. Among those disputing the introduction of the tax is Combined Harare Residents' Association (CHRA) director Mfundo Mlilo who made a court application last month challenging the SI 205-2018.

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