Two cents per one dollar tax to prioritise social services delivery – Finance Minister

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By Staff Reporter

Finance and Economic Development Minister Professor Mthuli Ncube says the two cents being taxed per one dollar of each electronic transaction, will be ring fenced to prioritise social services delivery such as health and education.
He was speaking during the launch of the transitional stabilization programme in Harare on Friday.
The Minister said the economy is now more informal adding that previous tax regimes are no longer effective.
He also said government will implement a raft of austerity measures that include reducing its wage bill, cutting down on government travel expenses and number of foreign missions.
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