August 6, 2019

‘Zimbabwe’s 2% tax to go’

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Takudzwa Chihambakwe

THE intermediate tax on all electronic transactions to the tune of $RTGS20 and above might have to be revisited once again, even after Zimbabwe’s Finance and Economic Development Minister, Professor Mthuli Ncube had made some adjustments last week.

The adjustments, which might result in the scrapping off of the tax in total, come after Executive Director of the World Food Programme, David Beasley said that funding to assist those in need of food aid in the drought hit southern African country is not being released, as players in the humanitarian sector feel that most of it will end up being taken up by the tax.

Mr Beasley was speaking at the launch of the Revised Zimbabwe Humanitarian Appeal in the capital, Harare, on Tuesday.

Professor Ncube interjected Beasley as he continued with his speech saying, “We will remove it.”

Meanwhile, at the same event, the United States of America and the European Union gave humanitarian aid to Zimbabwe to the tune of US$45 million and US$11 million, respectively.

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