Tendai Biti won the contested court case on the legality of the 2% tax imposed by Finance Minister Hon Mthuli Ncube.
Mthuli Ncube then released a statement to the effect that the 2% tax was to continue to be collected since it was validated by parliament under Finance Act No.1 of 2019.
Below is the Press Statement.
18 September 2019
RE: PRESS RELEASE ON COURT JUDGEMENT ON 2% INTERMEDIATED MONEY TRANSFER TAX
The Attorney General has brought to my attention the judgement on SI 205/2018 pertaining to the collection of Intermediated Money Transfer Tax.
That judgement will not affect the collection and levy of the Intermediated Money Transfer Tax because the collection of the Tax under that Statutory Instrument 205/2018 was subsequently validated by Parliament under the Finance Act No. 1 of 2019.
Consequently, the 2% tax will continue to be levied.
Hon. Prof. M. Ncube.
MINISTER OF FINANCE AND ECONOMIC DEVELOPMENT
