2 Cents Tax Raises $572,4 Million In December Alone

The government claims that the two cents tax raised $524,4 million in December, a figure which surpassed the set target. The 2 cents tax or Intermediated Money Transfer Tax (IMTT) was introduced by the Finance Minister, Mthuli Ncube in October.

Through the Information Ministry’s Twitter page, the government revealed that,

Revenue collection efficiencies are part of the government of Zimbabwe’s efforts to enhance resource mobilisation.

The two per cent tax is part of this effort. As a result, in December 2018 up to the 26, $572,4 was raised surpassing the monthly target by $129,1 million.

The remainder will be used for funding education, health services and closing potholes so that people really feel where the money is going.

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More: Daily News