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2% Transaction Tax Going Nowhere, Finance Minister Says It’s Going To Give Civil Servants Wages They Deserve

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The past 10 years wouldn't have been possible without you. Thank you!

One thing that’s for sure:  electronic transactions are now expensive in Zimbabwe. Ironically so when the government says they are pushing for a cashless economy. I don’t know how they think but taxing electronic transactions exorbitantly is hardly pushing for a cashless economy.

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We all hoped that the tax will be going away soon. When an outcry was raised against it, Mthuli Ncube, the Finance and Economic Development minister said the tax was temporary. I guess not as temporary as I guessed because here are recent remarks from the minister:

Income from 2 % tax will also be used to rejuvenate and improve the new Zimbabwe; building schools, roads and making sure our nurses, doctors and teachers receive the wages they deserve. Shelves in shops are now full and fuel lines have petered out.

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The guy has plans for the money raised through this tax!

The legality of the tax is still in question but there doesn’t seem to be a care. I guess it’s because they are gettimng all that money. The government was already charging a tax on electronic transactions for some years now but they used to levy a flat $0.05 per transaction. With the increase of the tax to 2% they earned 889% more out of our transactions in the 4th quarter of 2018 than they did in the third quarter. No wonder…


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9 thoughts on “2% Transaction Tax Going Nowhere, Finance Minister Says It’s Going To Give Civil Servants Wages They Deserve

  1. LOL and no body else deserves to have any money…. I though they were wanting to cut the civil servants salary bill? Petrol queues have started in KweKwe….

    1. is that not how tax works . . . i dont know of any country were civil servants are not paid from tax collected and yet they still pay vat and other taxes when they purchase goods.

      1. True, that’s exactly how tax works. It just sounds interestingly ridiculous once you pause to think about it

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