Zimbabwe's Deputy Reserve Bank Governor, Kupukile Mlambo says tax collection has improved in the country.
The Zimbabwean Treasury’s introduction of a 2% tax on all electronic transactions has yielded positive results beyond the government’s expectations. This is according to Zimbabwe’s Deputy Reserve Bank Governor Kupukile Mlambo. Speaking at a media briefing at the African Economic Research Consortium’s 50th biannual plenary currently underway in Cape Town, Mlombo said the the country has improved its tax revenue.Mlambo noted that the tax collected on electronic transaction managed to pay for the damage of the recent floods in the country.
“Treasury, they introduced a 2% tax on all electronic transactions. This is very important for Zimbabwe because 95% of our domestic transactions are in electronic form so cash really accounts for a very small amount of payments because of the shortage of cash. Now what this 2% tax on electronic transactions has done, – is that it has also managed to bring in the informal sector which normally doesn’t pay taxes. And for the first time in almost six years we are to have a surplus on our budget.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Who is kidding who here?
That is going to hit the poor badly
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Proteas World Cup warm up match abandoned - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The South African national cricket team's ICC World Cup warm-up match against the West Indies in Bristol was abandoned due to inclement weather.
Source: SABC News Online - 🏆 32. / 51 Read more »
Four people placed on special leave over ill-treatment of Martha Marais - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Gauteng's new MEC of Health Bandile Masuku has confirmed that four people have been placed on special leave pending their suspension over the alleged ill-treatment of 76-year old Martha Marais. Knowing Government, it's probably paid leave🙄 These nurses were under the influence of something, this type of brutal action it's not normal
Source: SABC News Online - 🏆 32. / 51 Read more »
Proteas up for heavy run chase against Bangladesh - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.South Africa are in all sorts of trouble against Bangladesh in their second World Cup match at the Oval in London.
Source: SABC News Online - 🏆 32. / 51 Read more »
Mashaba expresses disappointment over Alex demolitions - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Mayor Herman Mashaba expressed his disappointment with the demolitions and says he was not informed about plans to evict and demolish the structures. Hebanna. Manje who is taking responsibility for this thing? Everyone is denying nje. Kudlalwa ngabantu lana.
Source: SABC News Online - 🏆 32. / 51 Read more »
N Cape latest to receive license to cultivate cannabis - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.A company in Upington in the Northern Cape is the latest to receive a licence to cultivate medical cannabis.
Source: SABC News Online - 🏆 32. / 51 Read more »
Henry leads Kiwi charge to dismiss Sri Lanka for 136 - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Matt Henry led the New Zealand charge with three wickets to help dismiss Sri Lanka for just 136 in their opening match of the World Cup in Cardiff on Saturday.
Source: SABC News Online - 🏆 32. / 51 Read more »
Blast at Russian explosives plant injures 38 - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.At least 38 people were injured in a blast at a major explosives plant in central Russia on Saturday, local news agencies reported, citing emergency services.
Source: SABC News Online - 🏆 32. / 51 Read more »
City of C Town suspends MyCiTi N2 Express services - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The City of Cape Town says the MyCiTi N2 Express service for commuters from Mitchells Plain and Khayelitsha will be unavailable until further notice.
Source: SABC News Online - 🏆 32. / 51 Read more »