Help me understand this. The rationale presented is that this tax is meant to bring the informal sector into the tax net. Which informal organization has single transactions of 500K? Transactions in the real informal sector hardly exceed 1000. So USD10000 tax transaction tax sounds reasonable to the Minister of Finance? This is a compounding tax with serious implications on cost of doing business has its impact been evaluated or someone at the tax office just so the genius of raising more revenue from this tax head than any other, and said hallelujah our problems are over?
Tinashe Nyahasha
Still wrapping my head around this tax too. I know the government needs to raise more desperately but this is one big stretch
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Help me understand this. The rationale presented is that this tax is meant to bring the informal sector into the tax net. Which informal organization has single transactions of 500K? Transactions in the real informal sector hardly exceed 1000. So USD10000 tax transaction tax sounds reasonable to the Minister of Finance? This is a compounding tax with serious implications on cost of doing business has its impact been evaluated or someone at the tax office just so the genius of raising more revenue from this tax head than any other, and said hallelujah our problems are over?
Still wrapping my head around this tax too. I know the government needs to raise more desperately but this is one big stretch