The government has heeded our call, Techzim’s call we’d like to think so. You will no longer be charged that 2% tax for moving your money from bank to wallet, that is from your bank to EcoCash. In a message to its customers Ecocash said;
Dear customer, note that bank to wallet transfers are FREE of IMT Tax & EcoCash charges. Move money from bank to your wallet with PEACE OF MIND & transact 24/7.
Since many people prefer using EcoCash or mobile money wallets as they can be used almost everywhere, the scraping of the 2% tax makes sense because like we wrote in a recent article: we were being taxed for moving money from the right hand to the left.
Is it for EcoCash only?
Sorry at the moment we are not sure if the exemption is for all the mobile money wallets. Efforts to get ahold of OneMoney have been futile. But I think it stands to reason that the exemption is for everyone, I cannot think of any reason why EcoCash could have this privileged only.
EcoCash is a mobile money transfer facility which is run by Econet Wireless Zimbabwe. The facility has grown in leaps and bounds since its inception and is arguably the largest mobile money transfer agent considering the huge sums of transactions that the platform is said... Read More About EcoCash