• Sofia

Mthuli Ncube says the 2% tax on transactions still stands after court ruling

The High court yesterday 18th of September ruled against the 2% tax on transactions which was imposed on Zimbabweans about a year ago by Finance Minister Mthuli Ncube. The ruling came after a Harare resident Mfundo Mlilo went to court last year October challenging the legality of the tax. The tax was promulgated through the statutory instrument (SI205/2018) of October 12. Mlilo's argument was that a Minister cannot amend an Act of Parliament via the SI and amendments of income tax laws. Minister Ncube has however responded by saying the 2% tax still stands. He says the judgement will not affect the collection and levy of the Intermediate Money Transfer Tax because the collection of the Tax under Statutory Instrument 205/2018 was subsequently validated by Parliament under the Finance Act No.1 of 2019.

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