Separation of FCAS into nostro and RTGS FCA’s to boost government's revenue collection

...


By Staff Reporter

The Confederation of Zimbabwe Retailers (CZR) says the separation of foreign currency accounts (FCAS) into nostro and RTGS FCA’s will boost government's revenue collection, but will however negatively impact on the pricing system of goods in shops.
In an interview with Star FM News, CZR president Mr Denford Mutashu said some suppliers have increased prices by 2 percent, in response to government's decision to charge two cents for each dollar transacted.
Presenting his monetary policy statement on Monday, RBZ governor Dr John Mangudya said the introduction of separate foreign currency accounts for nostro and RTGS funds was aimed at strengthening the multi-currency system, while Finance Minister Professor Mthuli Ncube announced that government had with immediate effect reviewed the amount charged for every money transfer transaction, from 5 cents per transaction to 2 cents for every dollar per transaction to widen the tax base.
======

Advertisement
Live Now

Latest News

News ...
Chamisa calls for unity among political leaders


By Staff Reporter
Mdc-Alliance president Mr Nelson Chamisa says there is need for unit...

Read More

News ...
Cholera cases in Harare decrease


By Caroline Konje

City of Harare’s acting health services director Dr Clemence D...

Read More

News ...
Government temporarily suspends statutory instrument 122 of 2017



By Staff Reporter
Government has temporarily suspended statutory instrument 122 of...

Read More

News ...
Kariba Lake Side festival preps on course


By Staff Reporter
Zimpapers deputy general manager radio division Mr Piwayi Dzuda, says prepa...

Read More

More