2% Tax Already Producing Results- Mnangagwa

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Responding to questions from delegates at the 3rd annual Public Sector Audit Conference in Harare yesterday, President Mnangagwa said the two cents intermediary money transfer tax is not a hindrance to business.

He said the recently introduced tax is helping Zimbabwe to narrow its budget deficit. Said Mnangagwa:

I do not think it is a hindrance. It has helped us a lot now to narrow the deficit gap in our economy. Yes, initially when it was articulated by the Minister of Finance and Economic Development (Professor Mthuli Ncube) it had overlooked a lot of people who in our view ought to have been left out. He did his best to re-explain it and move out from compliance many categories whom we think would cause a prohibitive manner in doing business.

Mnangagwa said the tax will be reviewed.

More: Chronicle

Mthuli NcubeHarare

Professor Mthuli Ncube is the Minister of Finance and Economic Development.He was the Chief Economist and Vice President of the African Development Bank ,financial, economics, investment, and public policy expert, entrepreneur and academic. Professor Ncube divides his time between the private sector in Switzerland and... Read More About Mthuli Ncube

Harare formerly Salisbury is the capital of Zimbabwe. It is the seat of Government, the industrial hub and commercial centre for Zimbabwe. The city was founded by the Cecil John Rhodes-led Pioneer Column in 1890 and named Salisbury. The name was only changed to Harare... Read More About Harare

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