Zimbabwe: Govt On Electronic Tax

19 November 2019

Government has increased the minimum taxable amounts for intermediated money transfer tax (IMTT), better known as the 2 percent tax, to $100 from $20 per transaction for individuals as it sought to ease the burden on low income earners. The review takes effect from January next year.

The tax, which was introduced last year to spirited public opposition, has now widely been accepted after Government insisted it would not go away. President Mnangagwa at the time described the tax as a "necessary pain".

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