Articles tagged 'transaction tax'

'Govt shouldn't sacrifice ordinary Zimbos' 10 October 2018 HARARE – Government has been urged to own up to its overspending and stop punishing ordinary citizens by burdening them with the extra two percent per dollar tax. Responding to President Emmerson Mnangagwa's recent utterances that Zimbabweans should take the pain, analysts said it was not fair...
Police ban ZCTU protest march 10 October 2018 HARARE – Plans by the Zimbabwe Congress of Trade Unions (ZCTU) to demonstrate against the recently introduced tax were thrown into disarray yesterday after police banned the protest saying government is still to contain the cholera outbreak. In a statement yesterday, the police said last month...
Split in Cabinet over transaction tax 9 October 2018 HARARE - The recently announced tax regime has divided President Emmerson Mnangagwa's Cabinet right through the middle with a section of it pushing hard to have the austerity measures reversed to ease the suffering among ordinary Zimbabweans, the Daily News can report. Early last week, Finance...
Companies close as Zim burns 9 October 2018 HARARE - Zimbabwe's fragile economy continued to implode yesterday as several companies temporarily shut down at a time prices of basic commodities continue to rise exponentially due to lack of foreign currency. Sifelani Jabangwe, president of the Confederation of Zimbabwe Industries, yesterda...
Nkosana Moyo dismisses Mthuli tax reforms 9 October 2018 HARARE – Former Industry and Trade minister Nkosana Moyo has dismissed Finance minister Mthuli Ncube's tax reforms, noting that they do not address the real stem of the economic crisis, which is government's overspending. The professor, who is part of the technocrat Cabinet appointed by Presid...
Tax protests loom 9 October 2018 HARARE – Zimbabwe is on the brink of crippling protests over the recently introduced tax regime that are seen dampening current efforts aimed at reviving the country's economy, which has continued on a downward trend, amid serious shortages of goods and escalation of prices. Last week, the Zim...
Talk to Chamisa to spur economy, ED urged 8 October 2018 HARARE - With the country's economy continuing to haemorrhage badly despite the government's best efforts, analysts and ordinary citizens are urging President Emmerson Mnangagwa to engage opposition leader Nelson Chamisa (pictured)to stem an economic “Armageddon” similar to 2008. Among the pro...
RBZ disburses $40m to shore up fuel supplies 8 October 2018 HARARE – The Reserve Bank of Zimbabwe (RBZ) says it has disbursed $40 million towards the purchase of fuel to stem long queues across the country. In a statement, RBZ governor John Mangudya urged motorists not to engage in panic-buying of the commodity, claiming there is sufficient fuel availa...
Ncube fails to douse the fire 7 October 2018 HARARE - Jittery Zimbabweans say Finance minister Mthuli Ncube's humiliating back pedalling on Friday — on his much-criticised two cents per transacted dollar tax — was “too little, too late” because the country is now facing “a full blown economic crisis”. They told the Daily News on Sunday y...
CRISIS: Bond note plunges, fuel shortages emerge, prices skyrocket 6 October 2018 HARARE - The bond note yesterday crashed to 1:250 against the United States Dollar — sparking panic among ordinary Zimbabweans who have been raging all week over government's controversial two cents per dollar tax on electronic transactions — which triggered price increases and shortages of goods...
Ncube warns of more pain ahead 6 October 2018 HARARE - Finance minister Mthuli Ncube has warned Zimbabweans to brace for more pain as he tries to pull the country's tottering economy out of its current state. The well-regarded former banker has also said there is no going back on the controversial two cents per dollar transactional tax wh...